Tharisa Initiates Multigenerational Underground Mining Plan

Why It Matters

The underground shift extends Tharisa’s mine life by six decades, reduces dilution and waste, and secures a stable supply of PGMs and chrome, strengthening its competitive position and appeal to investors.

Key Takeaways

• Tharisa begins underground transition with three new portals
• Targeting 255,000 tons monthly production capacity by 2029
• East mine supplies 75% of feed, remains operational
• Underground mining reduces ore dilution, improves feed grade
• Plan extends mine life by 60 years, multi-generational asset

Summary

Tharisa Resources announced the commencement of its multi‑generational underground mining programme, marking the first blast that created three access portals to the MG2 and MG4 reef horizons. The move signals the company’s shift from a finite open‑pit operation, whose life has been extended to 2033, toward a fully underground operation.

The transition is slated to take three years, with underground production ramping to a name‑plate capacity of 255,000 tonnes per month by 2029. The West‑side Apollo portal will complement the existing East mine, which currently provides roughly 75% of the run‑of‑mine feed, ensuring continuous output while the West development comes online.

Executives highlighted that board‑and‑pillar mechanised mining will minimise ore dilution and eliminate waste rock, delivering cleaner ore and higher feed grades to processing plants. “No generation of waste and just clean mining,” they said, underscoring the technological focus on safety and efficiency.

By unlocking an additional 60 years of mine life, the underground strategy positions Tharisa as a long‑term supplier of platinum‑group metals and chrome concentrate, potentially stabilising its revenue stream and enhancing shareholder value amid volatile commodity markets.

Original Description

Tharisa has begun underground operations at its South African platinum group metals and chrome mine. The first underground blast took place this week, and development is now underway. The company already has a well established track record of production from its open pit operations and these will continue for some time yet. But the move underground is designed to secure Tharisa's long-term future, and the company is talking about continuing to mine the reef for 60 years. Phoevos Pourolis, Tharisa's chief executive, joins us to tell us more about the underground development, as well as to talk about sentiment around PGMs and chrome, and the new chrome trading facilities that the company has recently put in place.