14th Oct 2025 07:55
(Alliance News) - Tharisa PLC on Tuesday reported "robust" production in its fourth quarter, but this performance was not enough to boost output for the full year.
The Cyprus-headquartered platinum miner delivered platinum group metal production of 138,300 ounces for the financial year that ended September 30, down 4.7% from 145,100 ounces a year earlier.
For the fourth quarter to September 30, PGM production rose 20% to 41,300 ounces from 34,500 ounces in the third quarter to June 30, 2025, and was up 11% from 37,100 ounces in the fourth quarter a year before.
Tharisa benefitted from strong PGM prices. Average annual PGM price rose 19% to USD1,615 per ounce for the year to September 30, from USD1,362. PGM price grew by 24% to USD1,953 an ounce on average in the fourth quarter from USD1,574 in the third quarter and surged 43% compared to USD1,370 in the fourth quarter a prior year.
Full-year chrome production was down 8.2% to 1.56 million tonnes from 1.70 million tonnes.
But fourth-quarter chrome output rose 2.9% to 407,200 tonnes quarter-on-quarter from 395,700 tonnes, but fell 4.6% from 426,800 tonnes year-on-year.
Average annual chrome concentrate prices declined 11% to USD266 per tonne from USD299. Prices on average dropped 5.8% to USD276 a tonne on-quarter from USD293, and were 12% lower on-year from USD314.
"We closed the year on a strong note, delivering robust production results in the final quarter," Tharisa Chief Executive Officer Phoevos Pouroulis said.
"This performance reflects the resilience of our operations, the dedication of our teams on the ground, and the effectiveness of the strategic investments we have made throughout the year, complemented by yet another pleasing safety performance through all our operations," Pouroulis said.
By Artwell Dlamini, Alliance News senior reporter South Africa
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