Investment proposition

What makes us different?


Mining all 6 MG chromitite layers – access to both PGMs and chrome resource


One of the PGM and chrome industry’s lowest cost producers – with more room to cut costs


Allows us to process both PGMs and chrome – with expansion opportunities


Organic growth opportunities through pit extension and future underground mining – with potential acquisitive growth when the market allows


Direct access to the only JSE listed PGM and chrome concentrate co-producer


Tharisa is uniquely positioned through its:

  • commitment to health, safety and environmental management
  • shallow and large scale PGM and chrome resource, one of the world’s single largest chrome resources, enabling Tharisa to be a large scale producer for several decades
  • mining of all six MG chromitite layers allowing for the co-production of PGM and chrome concentrates
  • independent processing plants providing operational flexibility
  • capacity to produce metallurgical and higher value chemical and foundry grade concentrates for different markets
  • position in the lowest cost quartile of the PGM and chrome concentrate cost curves underpinned by low risk mining and beneficiation processes
  • stable labour and community relations
  • mechanised operations and skilled labour force
  • direct relationships with South African and international customers
  • integrated marketing, sales and logistics platforms
  • extensive industry and management experience with a successful track record of identifying, developing and operating open pit and underground mining operations
  • pioneering, innovative and unique approach to viable mineral extraction and beneficiation.

We challenge ourselves to achieve superior returns for our shareholders

Tharisa is a new age mining company that follows a unique approach through innovation and technology to co-produce PGM and chrome concentrates in South Africa. It offers direct access to the only JSE listed co-producer with an integrated marketing, sales and logistics platform.

Our key differentiators are that we have a large scale open pit resource that allows us to extract all six MG Chromitite Layers. We have a 20-year life of mine and the ability to extend operations underground by a further 40 years. The Tharisa Mine is located in the South African Bushveld Complex, the world’s largest platinum deposit, and taps into one of the world’s largest single chrome resources at 828Mt.

Mining, environmental and water use permits and licenses have been granted and are valid.

The mechanised nature of our open pit operation has ensured that we are in the lower cost quartile of PGM and chrome producers. While the open pit is planned with a strike length of 5km and a highwall height of approximately 200m, the average depth of platinum mines in South Africa is 750m below surface.

Tharisa Minerals is already in production and de-risked with the major capital investment programme complete and has two independent processing plants with 400 ktpm combined capacity. The integrated process involves primary extraction of chrome followed by PGM flotation, then secondary chrome extraction from the tailings. Steady state production of 144koz 6E PGMs and 1.5Mt of chrome concentrates is planned to be achieved in 2016.

The two independent processing plants run the same process, which provides flexibility during electricity load shedding, such as recently experienced across South Africa. We are able to bypass crushing and/or grinding circuits in a phased manner to maintain production through the processing of crushed ore stockpiles. Thereafter we have the flexibility to halt the Genesis Plant, to accommodate Eskom’s maximum load shedding requirement.

We are committed to health and safety and have a zero harm policy with a recorded LTIFR of 0.06 per 200 000 man hours worked. We have a skilled, disciplined workforce. Tharisa Minerals recently secured a three-year wage deal with the  recognised employees union, NUM. Tharisa employs 2  000 on mine employees, including contractors, and a further 59 other group employees. As a responsible corporate citizen, we also have initiatives to support local communities through employment, education, skills development, health, community and business development.

The PGM concentrate is sold to Impala Refining Services under an off-take agreement that has been in place for four years since first concentrate production. Chrome concentrate is mainly shipped to China where it is consumed primarily by the stainless steel industry. We have a platform in China that markets our metallurgical chrome concentrates to end users, stainless steel producers and global commodity traders.

In 2015, our chrome exports represented 14.2% of South Africa’s chrome exports to China and 10.1% of Chinese global chrome imports.

Further organic growth through innovation is currently being undertaken, enabling additional revenue through the improvement of recoveries from every tonne of ore. We continue to assess value-accretive opportunities.

Our vision is to become a leading natural resources company, focusing on the PGM, chrome and steel raw materials market.