Tharisa plc (Cyprus)


Tharisa Minerals (South Africa) 74%
Tharisa Minerals produces PGM concentrate and metallurgical and specialty grade chrome concentrates from a shallow open pit mine near Rustenburg, North West province. The Genesis and Voyager plants have a combined nameplate capacity of 4.8 Mt of ROM ore per annum.






Arxo Metals (South Africa) 100%
Arxo Metals produces specialised higher margin chemical and foundry grade chrome concentrates, operates Sibanye-Stillwater’s K3 UG2 chrome plant in Rustenburg and is the Group’s research and development arm. It also commissioned a 1MW DC furnace to produce PGM-rich metal alloys. Arxo Metals conducts extensive research and development into technologies and beneficiation opportunities.


MetQ (South Africa) 100%
MetQ manufactures equipment used in the mining industry, with a particular focus on beneficiation.


Salene Manganese (South Africa) option for 70%
Salene Manganese’s principal activity is a manganese exploration and mining company. The Mining Right is for the mining of iron ore and manganese ore.


Arxo Logistics (South Africa) 100%
Arxo Logistics manages the rail and road distribution of PGM concentrate and chrome concentrates produced by the Tharisa Mine, and chrome concentrates from Sibanye-Stillwater’s K3 UG2 chrome plant. These products are transported to customers in South Africa and international customers via port facilities in Richards Bay and Durban.



Tharisa plc (Cyprus)


Arxo Resources (Cyprus) 100%
Arxo Resources markets and sells metallurgical and chemical grade chrome concentrate to customers primarily in Asia.


Karo Mining Holdings (Cyprus) 26.8%
Karo Holdings is establishing an integrated PGM mining and refining complex in Zimbabwe. Karo Platinum, an indirect subsidiary of Karo Holdings, has been awarded a Special Grant of over 23 903 ha in the Great Dyke to develop a PGM mining complex.



Tharisa plc (Cyprus)


Karo Mining Holdings (Cyprus) 26.8%
Karo Holdings is establishing an integrated PGM mining and refining complex in Zimbabwe. Karo Platinum, an indirect subsidiary of Karo Holdings, has been awarded a Special Grant of over 23 903 ha in the Great Dyke to develop a PGM mining complex.


Salene Chrome (Zimbabwe) 100%
Open pit chrome development project due for production start late 2021

Tharisa mine overview

Tharisa Minerals is 74% owned by Tharisa and is uniquely positioned as the world’s only co-producer of both PGMs and chrome concentrates. Tharisa Minerals’ core asset is the Tharisa Mine, which is situated on South Africa’s Western Limb of the Bushveld Complex – home to more than 70% of the world’s platinum and chrome resources.

The Tharisa Mine, located in the South African Bushveld Complex, the world’s largest PGM deposit, also taps into one of the world’s largest single chrome resources of 859.5 Mt.

Tharisa acknowledges that the safety of its people is critical to its success. The LTIFR for FY2020 was 0.09 (2019: 0.27) per 200 000 man hours worked. The mine achieved five years fatality free and four million fatality-free shifts.

The Tharisa Mine produced 142.1 koz of PGMs and 1.34 Mt of chrome concentrates in FY2020 and has provided FY2021 production guidance of between 155 koz and 165 koz of PGMs (on a 5PGE + Au basis) and 1.45 Mt to 1.55 Mt of chrome concentrates.

Tharisa Minerals holds a Mining Right over 5 475 ha of land near the town of Rustenburg in the North West province of South Africa. The Mining Right was granted on 19 September 2008 for an initial period of 30 years, providing access to MG Chromitite Layers, which outcrop with a strike length of approximately 5 km.

The Tharisa Mine has a remaining open pit life of 14 years with a projected. 40-year underground mining operation. The open pit is divided into the east pit and west pit, and extracts reef from five MG Chromitite Layers.

LTIFR for FY2020 was



per 200 000 man hours worked

The mine achieved

5 years

fatality free

The mine achieved

4 million

fatality-free shifts

The mine produced

of ROM

The mine produced

of PGM's

The mine produced

of chrome concentrates

Provided FY2021 production guidance of between

155 koz –165koz
of PGMs
(on a 5PGE + Au basis)

Provided FY2021 production guidance of between

1.45Mt – 1.55Mt
of chrome concentrates

    Arxo Resources has the exclusive right to sell the metallurgical grade chrome concentrate produced by Tharisa Minerals to customers in China and other international markets. It has established a strong platform with global customers in China, including stainless steel and ferrochrome producers, as well as global commodity traders.

    Arxo Resources also has a joint marketing agreement for Tharisa Minerals’ chemical grade chrome concentrate production.

    The scale of Arxo Resources’ operations allows for direct access to market and price discovery. Its established contacts with customers also directly creates an excellent platform for additional sales of third-party products.


    Arxo Logistics provides an integrated logistics platform that reduces the risk and costs of transporting concentrates. It manages the road transportation of Tharisa’s PGM concentrates to Impala Platinum and the long haul transportation of chrome concentrates from the Tharisa Mine and K3 UG2 chrome plant to international customers through bulk and container shipping. Exports take place via the Richards Bay Dry Bulk Terminal and the Durban container port on the South African coast.

    Arxo Logistics has a good relationship with both South Africa’s transport parastatal, Transnet, and the port authorities. Arxo Logistics has the exclusive use of the Marikana railway siding for chrome exports.

    Over 95% of the product is shipped in bulk, which is preferred by customers due to ease of handling and reduced port charges, as well as reduced levels of administration.

    The logistics arm of the Group has the necessary road and rail transport capacity, warehousing facilities and port facilities at the Richards Bay Dry Bulk Terminal and the Durban container port to manage Tharisa Minerals’ full production capacity. It also serves as a platform from which the Group can provide services to additional third-party customers.


    Arxo Metals owns the Challenger Plant, which is integrated into Tharisa Minerals’ Genesis Plant. The Challenger Plant is dedicated to the production of chemical and foundry grade concentrates.

    Specialty grade concentrates carry more stringent specifications and therefore fetch a higher selling price. Arxo Metals has an offtake agreement for the sale of its concentrates to customers in the chemical and foundry industries globally.

    In August 2017, Arxo Metals entered into an agreement with now Sibanye-Stillwater on the operation of its K3 UG2 chrome plant and for the sales and marketing of the UG2 chrome concentrate produced. Arxo Metals unlocks greater value from the K3 UG2 chrome plant using innovative processing already in use at our operations. Arxo Metals is also the beneficiation, research and development arm of the Group. Arxo Metals conducts extensive research into technologies and downstream beneficiation opportunities that have the potential to improve yields and recoveries at the Tharisa Mine. The creation of increased value PGM and chrome products through the expansion and optimisation of the Group’s processing operations is its core focus.

    Arxo Metals has commissioned a 1 MW DC furnace, operated by Tharisa Minerals, which produces PGM alloy, and is continuing its research work into refining processes.

    Mansell Mafiri, Smelter Manager talks about Arxo Metals

  • METQ

    MetQ Proprietary Limited, a manufacturer of equipment principally for the mining industry, was acquired by Tharisa with effect 1 October 2019. The Company has a 40-year track record of supplying specialist processing equipment to the mining industry, with a number of long-term clients. For further information please visit www.metq.co.za


    Salene Chrome was awarded a number of special grants in May 2018 on the eastern side of the Great Dyke of Zimbabwe, allowing for the mining of various minerals. Salene Chrome subsequently had also applied and was granted, a number of licenses to the western side of the Great Dyke.

    Salene Chrome East covering 11 900 ha adjacent to the Great Dyke in Zimbabwe and Salene Chrome West covering 12 400 ha to the west of the Great Dyke.

    The Salene Chrome project is located in a Special Economic Zone in Zimbabwe, which permits the import/export of capital without any trade barriers, benefits beyond the expatriation of capital, a reduced tax rate, duty-free importation of raw materials and exchange control facilities.

    Tharisa is committed to developing Salene Chrome and will begin to ramp up production from November 2021. The Company is targeting an initial mine life of 7 years, producing a maximum output of around 7ktpma at 23.9% Cr2O3. The planned capital expenditure for the ramp-up is US$4.9m.

  • 3

    Tharisa has an option for 70% of Salene Manganese. Salene’s principal activity is the mining of manganese and iron ore on a DSO basis. The mine is in operation and is cash generative, with current production on an annualised basis of 600 000 tonnes of manganese and 600 000 tonnes of iron production. A second phase of resource drilling and declaration is underway to increase production to 1.2mtpa of each product.

  • 4

    In June 2018, Tharisa acquired a 26.8% shareholding in Karo Holdings. Karo Holdings entered into an investment agreement with the Republic of Zimbabwe on 22 March 2018, in terms of which Karo Holdings has undertaken to establish an integrated PGM mining complex.

    Karo Platinum, an indirect subsidiary of Karo Holdings, applied for and was awarded PGM rights under a Special Grant under the Zimbabwe Mines and Minerals Act, covering an area of 23 903 ha. The licence area is situated on the Great Dyke in the Mashonaland West District of Zimbabwe. This area of land had been released by Zimbabwe Platinum Mines (Private) Limited from its mining lease area in support of the government of Zimbabwe’s efforts to enable participation by other investors in the country’s platinum mining industry. In terms of the Special Grant, Karo Platinum will be entitled to mine PGMs situated within the licence area. Karo Platinum will be responsible for the mine development and mining operations, which will deliver ROM ore to Karo Refining.

    Most recently Karo Platinum completed 238 boreholes, comprising 32 400 m drilled. Drilling has focused on the western boundary of the Great Dyke, with average depths of 50 m to 150 m below surface targeted. Significantly, the Zimbabwe Special Economic Zones Authority has declared a portion of Selous, measuring 50 667 hectares, as a special economic zone. The zone is located on certain pieces of land covered by special mining grants issued to a subsidiary of Karo Holdings. The second phase of drilling has commenced following partial lifting of
    COVID-19 restrictions.