2021 was a 'watershed' year for Tharisa, says Pouroulis

24th February 2022 By: Tasneem Bulbulia - Senior Contributing Editor Online

Dual-listed Tharisa’s last financial year was a “watershed” year for the company, chairperson Loucas Pouroulis said in a statement delivered at the company's annual general meeting on February 24.

During the year under review, Tharisa started production at Salene Chrome Zimbabwe, while completing an implementation study on its Karo platinum project, in which Tharisa owns 26.8% and which is also located in Zimbabwe.

In South Africa, Tharisa says it has grown both platinum group metals (PGMs) and chrome production at the Tharisa mine, and this trajectory has continued into the first quarter of its 2022 financial year.

The Vulcan Plant, Tharisa’s fine chrome beneficiation plant, is well into commissioning and the live tailings from both the Voyager and Genesis plants are being fed into this new plant, designed in-house and 90% procured in South Africa.

From a financial perspective, 2021 was also a major success, Tharisa acclaims.

It increased its dividend by almost 160%, its earnings a share increased by 131% and its earnings before interest, taxes, depreciation and amortisation almost doubled.

Tharisa also emphasised the importance of it minimising the environmental impact of its activities.

As such, it has committed to reducing carbon emissions by 30% by 2030, with a clear roadmap to being net carbon neutral by 2050.

Tharisa has started this roadmap with the signing this past month of a comprehensive memorandum of understanding with a partner in renewable energy to build 40 MW of renewable solar power capacity at the Tharisa mine.

Tharisa has also recorded six years of fatality-free mining.