Despite reporting lower production for the 2019 financial year, dual-listed Tharisa remains confident of achieving its Vision 2020 strategy of delivering 200 000 oz/y of platinum-group metals (PGMs) and two-million tonnes a year of chrome concentrates by the end of the 2020 calendar year.

The JSE- and LSE-listed PGMs and chrome miner's output of platinum, palladium, rhodium, ruthenium, iridium and gold (6E) PGMs decreased to 139 700 oz for the financial year ended September 30, compared with the 152 200 oz produced in the 2018 financial year.

Chrome concentrate production decreased to 1.29-million tonnes, compared with the 1.45-million tonnes produced in the prior financial year.

"In the year under review, Tharisa significantly reset its mining operations, with a revised pit layout, an improvement in waste stripping, and the debottlenecking of the production plants. Though this translated into lower production than last year’s record performance, the significant work done provides Tharisa with a clear path to delivering on our Vision 2020 strategy.

“The key remaining investment to achieve our production goal, the Vulcan plant, is under construction and remains firmly on track for commissioning in the fourth quarter of the 2020 calendar year. We have focussed our energy in the right places and have invested in both our workforce and machinery, which will ensure we have the right tools to achieve our targets," CEO Phoevos Pouroulis said on Wednesday.

Tharisa said its revised pit layout had been largely completed and that the previously mined in-pit material had been removed.

A second Caterpillar 6050 face shovel is scheduled to be operational before the end of December, while various other capital items have been ordered or delivered, resulting in further improvements in the overall mining fleet age profile, capacity and efficiency.

Tharisa expects to produce between 155 000 oz and 165 000 oz of 6E PGMs and between 1.45-million tonnes and 1.55-million tonnes of chrome concentrates for the 2020 financial year.

Meanwhile, Pouroulis said the company was also pleased with the performance of its Zimbabwean projects.

It holds a 26.8% interest in Karo Mining, which is exploring for PGMs and base metals on the Great Dyke in Zimbabwe.

Pouroulis noted that Karo had completed phase one of its exploration programme, which had delivered positive early-stage results.

Tharisa also holds a 90% interest in Salene Chrome Zimbabwe, which has been awarded three special grants to conduct mining on a 9 500 ha area.