THARISA reports decline in PGM production (5PGE + AU) by -19.3%

Tharisa is an integrated resource group critical to the energy transition and decarbonisation of economies. It incorporates exploration, mining, processing and the beneficiation, marketing, sales, and logistics of PGMs and chrome concentrates, using innovation and technology as enablers.

Its principal operating asset is the Tharisa Mine, located in the south-western limb of the Bushveld Complex, South Africa. The mine has a 13-year open pit life and is strategically advancing the vast mechanised underground resource which extends for over 60 years. Tharisa is developing Karo Platinum, a low-cost, open-pit PGM asset located on the Great Dyke in Zimbabwe.

The Company is committed to reducing its carbon emissions by 30% by 2030 and the development of a roadmap to become net carbon neutral by 2050. As part of this energy transition, the 40MW solar project adjacent to the Tharisa Mine is well advanced. Redox One, a wholly owned subsidiary, is accelerating the development of proprietary iron chromium redox flow long duration battery storage utilising the commodities it mines.

• REEF MINED 4.2 Mt (2022: 5.5 Mt) -23.6%
• PGM PRODUCTION (5PGE + AU) 144.7 koz (2022: 179.2 koz) -19.3%
• CHROME CONCENTRATE PRODUCTION 1.58 Mt (2022: 1.58 Mt)
• REVENUE US$649.9 m (2022: US$686.0 m) -5.3%
• OPERATING PROFIT US$94.7 m (2022: US$184.5 m) -48.7%
• EBITDA US$136.8 m (2022: US$237.3 m) -42.4%
• PROFIT BEFORE TAX US$114.3 m (2022: US$220.2 m) -48.1%