Tharisa has announced another strong quarter of production ended 31 December 2020. The consistent operational performance underpins the Company maintaining its annual guidance of platinum group metals (PGMs) and chrome concentrate production for FY, 2021.

Phoevos Pouroulis, CEO of Tharisa, comments:

“The first quarter provided a solid platform for Tharisa to meet its production guidance for the current financial year with all key metrics delivering strong growth versus the same period in FY, 2020.

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“The consistent performance has been delivered in a strong spot market for PGMs in particular and stable chrome prices.

“Construction of the Vulcan processing plant remains on schedule and on budget for commissioning at the end of this financial year, which will further boost Tharisa’s chrome concentrate production from FY, 2022 onwards.

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“The significant progress made in optimising our mining operations during the course of 2019, and 2020 has been demonstrated by the consistent performance and availability of our operations over the last several quarters.

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“We continue to invest in our assets and in our market leading research and development, which will contribute to further production growth from our long life Tharisa Mine.

“The headwinds from the global COVID-19 pandemic continue to challenge the industry worldwide.”

Guidance for FY, 2021

Tharisa remains on track for FY, 2021 production guidance of 155 koz to 165 koz PGMs (6E basis) and 1.45 Mt to 1.55 Mt of chrome concentrates.

COVID-19 remains a risk to the Company and its forecasts and guidance are premised on the current level of economic activity being permitted by government regulations.