14th Jul 2026 07:52
(Alliance News) - Tharisa PLC reported on Tuesday that its third-quarter platinum group metals production grew by double digits, helping offset the impact of lower prices amid the conflict in the Middle East and the US Federal Reserve's hawkish stance.
The Cyprus-headquartered platinum miner delivered PGM production of 112,700 ounces for the nine months that ended June 30, up 16% from 96,900 ounces a year earlier.
PGM output for the third quarter rose 15% to 39,600 ounces, up from 34,300 ounces a prior year, and was 15% higher compared to 34,500 ounces in the first quarter that ended March 31.
Average PGM price for the third quarter surged 70% to USD2,681 an ounce from USD1,574 a year before, but fell 12% from USD3,038 in the second quarter.
PGM prices pulled back quarter-on-quarter after an extended rally, as a stronger dollar, higher real yields and renewed Fed hawkishness outweighed supportive fundamentals.
The firmer dollar and rising global bond yields are driven by the ongoing conflict in the Middle east.
Chrome production for nine months was flat at 1.15 million tonnes. But chrome output in the third quarter was 393,800 tonnes, down 2.5% from 404,000 tonnes in the second quarter, and inched down 0.5% from 395,700 tonnes a year before.
"The third quarter demonstrated normalised operations and in line with budget," Tharisa Chief Executive Office Phoevos Pouroulis said.
Looking ahead, Tharisa said its PGM production is trending towards lower end of its guidance of 140,000 ounces for the financial year ending September 30, compared to 138,300 ounces a year earlier.
By Artwell Dlamini, Alliance News senior reporter South Africa
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
Tharisa PLC