13th Jan 2026 08:00
(Alliance News) - Tharisa PLC said on Tuesday it remains "constructive" on the platinum group metal outlook after strong performance.
The Cyprus-headquartered platinum miner reported that PGM metal production rose 30% to 38,800 ounces for the first quarter to December 31 from 29,900 ounces over the same quarter in 2024, but fell 6.1% from 41,300 ounces for the fourth quarter to September 30, 2025.
PGM prices surged 60% to USD2,208 an ounce on average year-on-year from USD1,381, and was up 13% from USD1,953 on-quarter.
"PGM prices were robust during the quarter, underpinned by supportive market fundamentals, and we were able to deliver production into this pricing environment," Tharisa Chief Executive Officer Phoevos Pouroulis says. "We remain constructive on the PGM price outlook and expect current price levels, and potentially higher levels, to persist in the months ahead."
Chrome output grew by 6.7% to 349,400 tonnes for the first quarter to December 31, from 374,400 tonnes for the first quarter a year earlier, but declined 19% from 407,200 tonnes.
Average metallurgical grade chrome concentrate price inched up 1.8% to USD276 per tonne on-year from USD271 per tonne, but was flat on a quarterly basis.
"The first quarter of the financial year was another safe quarter operationally, with production reflecting planned mine volumes and the seasonal operating environment," Pouroulis said.
Shares in Tharisa were flat at at ZAR27.01 on Tuesday morning in Johannesburg.
By Artwell Dlamini, Alliance News senior reporter South Africa
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