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:
Lost-time injury-free (LTI) year
June
Continued drive to beneficiate saw Arxo Metals successfully produce chrome alloy from a unique and proprietary process
August
Entered into a 15-year agreement with Etana Energy for wheeled renewable energy
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
February
Announced acquisition of remaining 26% shareholding in Tharisa Minerals in a landmark BEE transaction
March
Acquired controlling interest in Karo Mining Holdings (KMH)
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
March
COVID-19 pandemic
September
Five years fatality free
October
Vulcan project restart
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
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
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
June
Listed on the LSE
November
Maiden distribution to shareholders
April
Listed on JSE, capital raised of US$47.9 million
September
Commissioning of high energy PGM flotation circuit
July
Challenger Plant is commissioned
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
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
March
Acquired 74% shareholding in Tharisa Minerals
November
Commenced production of first chrome concentrate
February
Tharisa Limited incorporated
September
Mining rights for Tharisa Mine granted
October
Commenced trial mining
December
US$65 million seed capital raised
February
Prospecting rights granted
March
Tharisa Minerals incorporated
