PAPHOS, Cyprus – Tharisa has advised that it had acquired an option to acquire a 90% shareholding in Salene Chrome Zimbabwe (Pvt) Limited at the par value thereof from Leto Settlement, a related party, published on 16 May 2018, the transaction status update announcement published on 21 August 2018 and the amended terms of the acquisition announcement published on 18 September 2018.
Shareholders are now advised that the parties have agreed to extend the option to acquire the 90% shareholding in Salene Chrome to 31 March 2021.
Tharisa is an integrated resource group incorporating mining, processing, exploration and the beneficiation, marketing, sales and logistics of PGMs and chrome concentrates. Its principle asset is the Tharisa Mine located in the South-Western Limb of the Bushveld complex, South Africa.
The open pit, mechanised mine has a 14-year open pit life of mine (LOM) and the ability to extend operations underground by at least 40 years.