Tharisa PLC (LSE:THS, JSE:THA), the South Africa-based chrome and platinum miner, posted a strong financial recovery in the year to end September 2021 as the chrome and platinum markets rallied.
Platinum production rose 11% to 157,800oz, with chrome concentrate output up 12.7% to 1.51Mt.
Helped by higher prices for both metals, revenue during the year rose by 47% to US$96.3mln, with operating profits more than doubling to US$179mln and earnings rising by 131%.
The dividend for the year goes up to 9c (3.5c).
“This has been a stand-out year for Tharisa on all levels, with safety the core value of our sustainability creating the platform for us to achieve our strategic goals," Phoevos Pouroulis, chief executive, said.
"With more than 3 000 employees and contractors at the Tharisa Mine, we celebrated six fatality-free years and five million fatality-free shifts this year.
"The Tharisa Mine, the centre of our operations has one of the longest life PGM and chrome reserves in South Africa with the open-pit life being extended by a further 7 years to 2041 and with over 50 years of mining ahead of us is set to generate value for all stakeholders for generations to come.”