What's Happening?
Tharisa, a company listed on the Johannesburg Stock Exchange and London Stock Exchange, has announced its production guidance for the 2026 financial year. The company aims to produce between 145,000 oz
and 165,000 oz of platinum group metals (PGMs) and between 1.5 million and 1.65 million tonnes of chrome concentrates. This target marks an increase from the 138,300 oz of PGMs and 1.56 million tonnes of chrome concentrate produced in the 2025 financial year. The company attributes its strong fourth-quarter performance to improvements in mining, milling, grade, and recovery metrics. Tharisa has also committed $547 million to underground mining at its flagship Tharisa mine, which is expected to extend the mine's life beyond 2034.
Why It's Important?
Tharisa's increased production targets reflect the company's strategic investments and commitment to operational efficiency and sustainability. The move is significant for the global PGM market, which has seen strong demand and constrained supply, leading to favorable pricing conditions. The company's focus on long-term capital investments is essential for unlocking resource potential and enhancing productivity. The increased production targets could bolster Tharisa's position in the global mining industry and contribute to the stability of PGM and chrome markets.
What's Next?
Tharisa plans to deliver the first ore from its new underground operation at the Tharisa mine in the second quarter of 2026. The company will continue to invest in its Karo PGM project in Zimbabwe, exploring growth opportunities while prioritizing long-term value creation and sustainable returns for shareholders. The global demand trends and constrained supply response are expected to support the company's positive outlook and continued investment in strategic assets.
Beyond the Headlines
The company's commitment to safety and operational efficiency highlights the ethical dimensions of its business practices. Tharisa's investments in fixed assets and strategic projects underscore its dedication to sustainable mining operations, which could influence industry standards and practices.
