“In the year under review Tharisa has significantly reset its mining operations, with a revised pit layout, an improvement in waste stripping, and the debottlenecking of the production plants,” says Tharisa CEO Phoevos Pouroulis.
“In the year under review Tharisa significantly reset its mining operations, with a revised pit layout, an improvement in waste stripping, and the debottlenecking of the production plants.
“Though this translated into lower production than last year’s record performance, the significant work done provides Tharisa with a clear path to delivering on our Vision 2020 strategy.
“The key remaining investment to achieve our production goal, the Vulcan plant, is under construction and remains firmly on track for commissioning in calendar Q4 2020.
“We have focussed our energy in the right places and have invested in both our workforce and machinery, which will ensure we have the right tools to achieve our targets.
“Extremely pleasing is our Zimbabwean development pipeline, especially with Karo Platinum completing phase one of the exploration programme with positive results apparent at this early stage.”
Salient features for the quarter ended 30 September 2019:
- Quarterly operational improvement with reef tonnes mined up 8.0% to 1 248.2 kt and tonnes milled up 6.9% to 1 291.2 kt
- Platinum Group Metals (‘PGMs’) recovery was 84.7% with production up 11.4% to 38.0 koz (Q3 2019: 34.1 koz)
- Chrome recovery at 61.0% (Q3 FY 2019: 65.5%) with production up 2.4% to 341.9 kt (Q3 334.0 kt)
- Third party chrome concentrate production at 69.4 kt, up 17.4% from Q3 2019
- Stripping ratio quarter on quarter has increased by 24.1% to 10.3 m3:m3 (Q3 2019: 8.3 m3:m3)
- Continued investment in fleet capacity and upgrades with second Caterpillar 6050 to be commissioned in Q1 of financial year 2020
Salient features for the year ended 30 September 2019:
- Reef tonnes mined and milled at 4 627.1 kt and 4 836.0 kt respectively
- PGMs recovery at 82.1% with production of 139.7 koz
- Chrome recovery at 62.0% with chrome production at 1 290.0 kt
- Third party chrome concentrate production of 241.1 kt
- PGM price of US$1 081/oz, an increase of 17.1% from 2018
- Chrome price received down 12.9% to US$162/t
- Pit layout substantially complete with pit design optimisation now underway