Tharisa PLC (LSE:THS, JSE:THA) said open pit production from its flagship Tharisa mine has been extended by seven years to 2041 under a revised life-of-mine schedule.
The revised schedule also mitigates the risks associated with the transition to underground mining, with portal development taking place while open pit mining continues.
"Following an annual review of the company's mineral resource and mineral reserve, the Tharisa mine's open-pit mining will continue through to 2041, seven years longer than previously indicated,” said chief executive Phoevos Pouroulis. “This development further cements the reputation of the Tharisa mine as a world-class, long-life asset that underpins our business and will continue to provide a sustainable, low-cost platform for over 50 years.”
Open-pit tonnage has increased by 30%, to 94.2 million tonnes (Mt), with total open pit and underground mineral reserves of 113.1Mt at platinum group metal (PGM) grades of 1.09 grammes a tonne (g/t) (3PGE plus gold) and chrome grades of 18.6%.