Johannesburg- and London-listed metals and mining company Tharisa has reported robust operational and strategic progress for the six months ended March 31, underpinned by the resilience of global commodity markets.
The company reported a 28% year-on-year increase in revenue to $359.4-million, while earnings before interest, taxes, depreciation and amortisation increased by 138.1% year-on-year to $104.3-million.
Net profit after tax rose by 468.3% to $46.6-million, while net cash from operating activities was $96.4-million, up 167.8% for the period.
“Our strong financial and operational results are testament to the effectiveness of our integrated business model. I am particularly proud of our exemplary safety performance, which demonstrates our unwavering commitment to the wellbeing of everyone at our operations. Safety is, and will remain, our core value,” says CEO Phoevos Pouroulis.
Tharisa also reported capital expenditure of $103.5-million for the period, which includes $21.4-million spent on the Karo platinum project, in Zimbabwe.
Pouroulis describes the advancement of the Karo platinum project as a milestone, reinforcing Tharisa’s diversified growth strategy and disciplined delivery on project development.
Further, he says the company’s focused investment in underground development at the Tharisa mine, in South Africa, reflects its dedication to maximising resource longevity and responsible value creation.
He adds that the company continues to make substantial gains in beneficiation, extracting greater value from each tonne processed and consistently providing high-value platinum group metals (PGMs) and chrome concentrates to global markets.
Pouroulis says these critical and strategic minerals are integral to driving the global energy transition, noting that PGMs enable emissions reduction technologies, hydrogen applications and play a key role in the AI ecosystem, while chrome is fundamental to stainless steel with expanding applications including renewable infrastructure.
“Together, these achievements highlight the strength of our vertically integrated model and the resilient platform on which we are building a sustainable, multi-generational mining business.
“Through innovation, responsibility and the pursuit of operational excellence, Tharisa remains committed to creating lasting value for all stakeholders,” says Pouroulis. – (Mining Weekly)
