Tharisa Mine concludes 4-year wage agreement

Tharisa plc

(Incorporated in the Republic of Cyprus with limited liability)

(Registration number HE223412)

JSE share code: THA

LSE share code: THS

A2X share code: THA

ISIN: CY0103562118

LEI: 213800WW4YWMVVZIJM90

('Tharisa' or the 'Company')

Tharisa Mine concludes 4-year wage agreement

Shareholders are advised that a market related four-year Collective Agreement on Substantive Terms and Conditions of Employment has been concluded with the main unions represented at the Tharisa Mine, namely the Association of Mineworkers and Construction Union (AMCU), the National Union of Mineworkers (NUM) and Solidarity.

The agreement is effective from 1 July 2020 until 30 June 2024, and applies to employees who are subject to the bargaining units at the Tharisa Mine.

Wage negotiations were mutually postponed earlier in the year during the height of the COVID-19 pandemic and subsequently concluded.

The agreement underpins the ongoing stability of Tharisa's labour relations and allows the Tharisa Mine to focus on growing the business for the benefit of all stakeholders.

Paphos, Cyprus

14 December 2020

JSE Sponsor

Investec Bank Limited

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Investor relations contacts:

Ilja Graulich (Head of Investor Relations and Communications)

+27 11 996 3500

+27 83 604 0820

[email protected]

Financial PR contacts:

Bobby Morse / Augustine Chipungu / James Husband

+44 207 466 5000

[email protected] 

Broker contacts:

Peel Hunt LLP (UK Joint Broker)

Ross Allister / David McKeown / Alexander Allen

+44 207 7418 8900

BMO Capital Markets Limited (UK Joint Broker)

Thomas Rider

+44 207 236 1010

Berenberg (UK Joint Broker)

Matthew Armitt / Jennifer Wyllie / Detlir Elezi

+44 203 207 7800

Nedbank Limited (acting through its Corporate and Investment Banking division) (RSA Broker)

Shabbir Norath

+27 11 295 6575