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Commenting on the production results for the fourth quarter and full year ended 30 September 2020, Tharisa CEO Phoevos Pouroulis, says:

“Growing the business and increasing production not just on a quarter on quarter, but a year on year basis despite the challenges of COVID-19, is a tribute to the extraordinary resilience and resourcefulness of all of our employees at Tharisa.

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“With exposure to PGMs, particular our favourable prill split towards palladium and rhodium, the latter of which we produced over 13 500 ounces for the year with the metal trading at record spot prices in excess
of US$ 13 000/oz, ensures Tharisa has an excellent financial and operating platform to progress the business through its next phase of growth.

“The rapid development of the hydrogen economy and the move to even cleaner emission standards will benefit the PGM market and Tharisa for some years to come.

“Our flagship Tharisa Mine delivered significant operational improvements following the investment in our assets, the ongoing optimisation of the pit, and the flexibility of our processing and distribution capacity.

“Our cost control, together with a robust balance sheet, ensures Tharisa is set to build on this performance as we restart construction of our Vulcan plant and continue to assess complementary opportunities to further de-risk our business.

“Our focus will be on continuously improving the quality of mining, increasing the productivity of our mining fleet and the efficiency of our processing capacity, to deliver further returns for our stakeholders.

“The impact of COVID-19, along with the national lockdowns and the disruptions associated with the pandemic, has been significant in South Africa, the African continent, and globally.

“The ongoing impact of the pandemic is likely to remain for the foreseeable future and as a business we have adapted accordingly, protecting our staff, suppliers and other stakeholders as best as we can, whilst continuing to
deliver on our stated strategic targets.”

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