Tharisa CEO Phoevos Pouroulis
JOHANNESBURG (miningweekly.com) – Platinum- and chrome-mining company Tharisa is transitioning from contract mining to owner mining at its Tharisa operation, taking over the employees and equipment of contractor MCC.
The Johannesburg Stock Exchange-listed Tharisa, headed by CEO Phoevos Pouroulis, said on Tuesday that it had been evaluating the benefits of switching from contract mining to owner mining and, with MCC parent company Extract changing its strategy, the decision had been taken to buy a portion of the fleet as a going concern.
Already developed in the course of its mine management are engineering and geological skills integral to in-house mining and the successful conclusion of the acquisition process will ensure an uninterrupted changeover.
With the 18-year life of the openpit and an estimated 40-year underground mine life potential thereafter, the taking over of the mining task is seen as a logical progression towards cost and operational benefits.
Tharisa said in a release to Creamer Media’s Mining Weekly Online that it would release a production update for the first half of its 2017 financial year on April 10.