Tharisa PLC - Cyprus-headquartered platinum miner - Estimates the ‘transitional capital’ of its planned phased transition to underground mining at Tharisa mine at $547 million. Tharisa currently operates a large-scale open pit mine. Says the underground expansion offers a ‘high confidence, low geological risk opportunity to sustain the Tharisa mine for in excess of 50 years’.
Tharisa says the addition of underground mined ore from West mine or Apollo complex, and East mine or Orion complex from 2031 will ensure that the nameplate processing capacity of 5.6 million tonnes per year is achieved and exceeded. Notes that transitional capital for the dual project development over ten years is $547 million, with peak funding of $173 million, to be financed by internal cash and external funding.
Current stock price in London: 99.60 pence, down 6.0% on Friday morning
12-month change: up 31%
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12-month change: up 34%
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