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History

The Group has completed a phased and low-risk development at the Tharisa Mine.

The Group owns the Tharisa Mine through Tharisa Minerals, a subsidiary of the Company. The majority of the prospecting rights relating to the Tharisa Mine were originally granted to Thari Resources in February 2006 and March 2007 and subsequently transferred to Tharisa Minerals (at that time a wholly-owned subsidiary of Thari Resources).

Key milestones in the development of the Group are as follows:

  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2014
  • 2013
  • 2012
  • 2011
  • 2009
  • 2008
  • 2006

2023

March

Successfully concluded a US$130 million debt facility with Société Générale and Absa Bank Limited, largest facility to date for the Group

August

Pilot mining commenced at Karo with the objective of confirming key ore mining assumptions and practical application of MRM processes

2022

February

Announced acquisition of remaining 26% shareholding in Tharisa Minerals in a landmark BEE transaction

March

Acquired controlling interest in Karo Mining Holdings (KMH)

2021

June

Six years fatality free, five million fatality-free shifts

October

Cold commissioning of the Vulcan fine chrome recovery plant, adding further product beneficiation

November

Exercised option to acquire 100% of Salene Chrome. Commenced mining and plant commissioning

2020

March

COVID-19 pandemic

September

Five years fatality free

October

Vulcan project restart

2019

February

Listed on A2X

August

Approval of Vulcan Plant, a groundbreaking use of existing technologies in fine chrome recovery

September

Achieved three million fatality-free shifts

October

Acquisition of MetQ

2018

March

Maiden interim dividend declared

June

Shareholding acquired in Karo Holdings

September

Record operational year

Salene Chrome’s shareholder grants call option for 90% shareholding

2017

May

Agreement entered into for the purchase of mining fleet and transfer of employees from mining contractor to move to an owner-operated mining model

August

Entered into strategic cooperation agreement with Tisco for chrome concentrate supply Secured first third-party operating and trading agreement

October

Transaction for the acquisition of mining fleet effective

November

Increased dividend declared and an improved dividend policy

2016

June

Listed on the LSE

November

Maiden distribution to shareholders

2014

April

Listed on JSE, capital raised of US$47.9 million

September

Commissioning of high energy PGM flotation circuit

2013

July

Challenger Plant is commissioned

2012

February

Secured project finance facility of ZAR1 billion

May

First bulk rail shipment

July

Tharisa Minerals water use licence granted

December

Voyager Plant is commissioned at 300 ktpm capacity

2011

January

US$95 million investment by Fujian Wuhang and HongKong HeYi Mining

April

US$150 million pre-listing capital raised

August

Genesis Plant is commissioned at 100 ktpm capacity

Tharisa Community Trust registered

November

Tharisa Community Trust receives 6% of Tharisa Minerals donated by Tharisa PLC

2009

March

Acquired 74% shareholding in Tharisa Minerals

November

Commenced production of first chrome concentrate

2008

February

Tharisa Limited incorporated

September

Mining rights for Tharisa Mine granted

October

Commenced trial mining

December

US$65 million seed capital raised

2006

February

Prospecting rights granted

March

Tharisa Minerals incorporated