Reviewing the year since the last AGM, executive chairman Loucas Pouroulis said the group has put in a strong operational performance, despite the disruption caused by the coronavirus (COVID-19) pandemic.
There has also been a strong increase in prices for metallurgical chrome, which had been lagging those of other steel commodities.
“Disappointingly, the South African government has not made any further public comments on the proposed export tax for chrome,” Pouroulis said.
“Tharisa remains a key player in the industry body known as Chrome SA, where, together with some of the other major players in the chrome market, we remain steadfast in our view that the proposed tax benefits are far outweighed by the risk, as demonstrated by independent third-party analysis, possibly breaching global trade regulations in the process. This proposed tax will not provide lasting or coherent support to the ferrochrome industry and the only sustainable and viable aid to this downstream industry is subsidised electricity pricing, and as such, we will defend our industry position,” he added.