What is the story about?
What's Happening?
Tharisa, a company listed on the Johannesburg and London Stock Exchanges, has announced a strategic shift to underground mining at its platinum group metals (PGMs) mine located on the western limb of the Bushveld Complex in South Africa. This transition is set to begin with the delivery of the first ore by the second quarter of 2026. The move comes as the company anticipates the depletion of its openpit resources within the next decade. The underground operation is expected to sustain an annual output of 5.6 million tonnes, extend the mine's life well beyond 2034, and reduce environmental impact. The development will proceed in phases, with the Apollo and Orion complexes being central to the plan. The project, costing $547 million, aims to enhance plant efficiency and increase recoveries of PGMs and chrome concentrates.
Why It's Important?
The shift to underground mining is significant for Tharisa as it ensures the long-term viability of its operations, potentially securing jobs and economic benefits for the region. By transitioning to underground mining, Tharisa aims to lower costs and environmental impact, aligning with global sustainability trends. The project is expected to enhance the company's competitiveness in the PGMs market by improving ore quality and reducing reliance on third-party ore. This move could also influence other mining companies to adopt similar strategies, promoting innovation and sustainability in the industry.
What's Next?
Tharisa plans to begin make-safe work for the Apollo shaft in August 2025, with development initiation in early 2026. The company will focus on completing the necessary infrastructure and securing regulatory approvals. As the project progresses, Tharisa will likely engage with stakeholders, including local communities and environmental groups, to ensure a smooth transition. The success of this project could set a precedent for future mining operations in the region, potentially attracting further investment and development.
AI Generated Content
Do you find this article useful?
