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Platinum group metals

Tharisa delivers bumper results, supported by strong PGM price and robust production performance

Tharisa expects production to increase during the coming year

Tharisa PLC (JSE:THA)(LON:THS) boosted revenue by 18.4% to US$406mln in the year to September 30, 2020.

The firm's earnings rose by 119.8% to US$113.1mln, while operating profit rose 262% to US$87.6mln. Earnings per share increased by 305.0% to 16.2 US cents.

Net cash flow was US$73mln as the company’s chrome and platinum group metal production in South Africa was supported by strong commodities prices.

The company produced 142,100 ounces of platinum group metals and 1.34mln tonnes of chrome concentrates.

The final dividend is increased by 367% to 3.5 US cents per share.

For 20201, Tharisa PLC expects to produce between 155,000 ounces to 165,000 ounces of platinum group metals, and between 1.45mln tonnes and 1.55mln tonnes of chrome concentrates.

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