Johannesburg Stock Exchange-listed mining concern Tharisa has completed construction of its new chrome project in Zimbabwe, Salene Chrome, and is looking to instantly cash in from rising chrome prices.
The company had budgeted US$250m for the new mine, but rising global inflation may increase the cost of doing business.
Apparenyly, costs such as fuel and explosives have risen, while sea freight costs also went up 100% over the past 6 months.
Tharisa says its expansion strategy focuses on diversified growth through value-accretive acquisitions and development of large-scale, low-cost projects that are in, or close to, production.
Tharisa is an integrated resource group engaged in exploration, mining, processing, and the beneficiation, marketing, sales and logistics of platinum group metals (PGMs) and chrome concentrates.
The Group has set a near-term production target of 200 koz of PGMs and 2.0 Mt of chrome concentrates.
Zwnews
