What's Happening?
Tharisa, a company listed on the JSE and LSE, has announced a strategic shift to underground mining operations to extend the life of its platinum group metals mine in the North West province of South Africa. The transition from openpit to underground mining is set to begin with the Apollo shaft, expected to deliver first ore by the second quarter of 2026. This move aims to sustain annual output, reduce costs, and minimize environmental impact, ensuring the mine's viability well beyond 2034.
Why It's Important?
The shift to underground mining by Tharisa is crucial for the long-term sustainability of its operations, potentially securing the future of the mine for multiple generations. This transition is expected to enhance efficiency, improve ore quality, and reduce environmental impact, aligning with global trends towards more sustainable mining practices. The development could also influence market dynamics for platinum group metals and chrome concentrates, impacting supply chains and pricing in the industry.
What's Next?
Tharisa plans to proceed with the underground development in phases, with the Apollo shaft leading the transition. The company has completed a definitive feasibility study and is preparing for the initial stages of underground mining. The transition will involve significant investment in infrastructure and workforce training, with the aim of achieving steady-state production by 2029. Tharisa's approach includes a partner-driven workforce strategy to ensure a smooth transition from openpit to underground operations.
