The life-of-mine of JSE- and LSE-listed Tharisa's openpit chrome and platinum group metals (PGMs) mine, in South Africa's North West province, has been extended by seven years to 2041.
Tharisa notes that a yearly review of the mine's mineral resource and mineral reserve statement indicates a significant extension of the mine life, from 13 years to 20 years.
"This development further cements the reputation of the Tharisa mine as a world-class, long-life asset that underpins our business and will continue to provide a sustainable, low-cost platform for over 50 years.
"This growth follows Tharisa’s demonstration of the consistency of its operations and proven ability to successfully move volume, while maintaining a strong production profile, resulting in shareholder value accretion.
"The ability to extend the openpit at the Tharisa Mine also allows us to take further advantage of this unique asset and provides the platform for our growth strategy," comments CEO Phoevos Pouroulis.
The openpit tonnage at the mine has increased by 30% to 94.20-million tonnes, with total openpit and underground mineral reserves of 113.1-million tonnes at PGM grades of 1.09 g/t and chrome grades of 18.6%.
The mineral reserves contain four-million ounces of platinum, palladium, rhodium and gold and 21.3-million tonnes of chrome.