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Tharisa extends open pit LOM

Tharisa, has announced an extension of the open pit LOM at its flagship Tharisa Mine, following an annual review of its Mineral Resource and Mineral Reserve statement.

Phoevos Pouroulis, CEO of Tharisa, commented:

“Following an annual review of the Company’s Mineral Resource and Mineral Reserve, the Tharisa Mine’s open-pit mining will continue through to 2041, seven years longer than previously indicated.

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 whilst maintaining a strong production profile, resulting in shareholder value accretion.

The ability to extend the open pit at the Tharisa Mine also allows us to take further advantage of this unique asset and provides the platform for our growth strategy.

Amid a global scramble for commodities as we head towards a sustainable future, Tharisa remains positioned to fulfil its goal of becoming an enabler of the global energy transition and is set to play a major role in not only the sustainable exploitation of resources but also the beneficiation of our commodities.

With other components of our 6-pillar growth strategy evolving rapidly, underpinned by a solid business model of operating long life, mechanised and open-pit assets, I am confident these latest developments will only contribute further to positive returns for all stakeholders.”