Tharisa set to shine with 1.5 m/t chrome concentrates
THARISA Minerals will produce 1.5 million tons (m/t) of chrome concentrates in 2019 as it posted improved operational performance in the year ended September 2018.
Tharisa yesterday also forecast that 160 000 ounces of platinum group metals (PGMs) and 1.5m/t of chrome concentrates, of which it said 375 000 tons would be speciality grade chrome concentrates.
PGM recoveries in the year to September 2018 reached 84 percent, exceeding an 80 percent target, the company said.
PGM production was 152 000 ounces up 6 percent year on year, while total chrome concentrate production was 8.8 percent higher in 2018 at 1.4m/t.
Tharisa chief executive Phoevos Pouroulis said yesterday that the past fiscal year saw yet another year of record production from the Tharisa mine, with the highest recovery rates on record.
“The significant advances we have made through our own research and development have seen Tharisa adopt new technologies, increase our ability to beneficiate our products and have the potential to improve our ability to maximise revenues from our operations,” Pouroulis said.
Pouroulis also said that the strong operational performance at the Tharisa Mine provided a solid foundation for the development of highly prospective exploration projects in Zimbabwe.
Tharisa in May announced that plans to acquire 90 percent of Salene Chrome Zimbabwe.
Tharisa’s subsidiary, Arxo Resources, will have exclusive off-take and marketing rights for the chrome concentrate produced from the Salene project.
Tharisa’s mining division mined 4.9m/t of run of mine 2018, 3 percent lower year-on-year, the company said, citing the availability of equipment.
“This was a result of an ongoing comprehensive maintenance plan to return the used mining fleet, purchased by Tharisa, to original equipment manufacturer standards.
“The implementation of the necessary maintenance systems will see availability and utilisation increasing for 2019, enabling the fleet to achieve the required mining rate of 5.2m/t,” the company said.
Tharisa was established by the Pouroulis family from Cyprus to explore the potential to mine PGMs and chrome concentrates.
The company has previously said that it will be implementing Vision 2020 projects in 2019 to take advantage of the shortage of chrome ore.
Through Vision 2020 Tharisa aims to deliver 200 000 ounces of PGMs and 2m/t of chrome concentrate in 2020 at the Tharisa Mine.