Tharisa (THS) enters long-term underground mining agreement at South African operation

Tharisa (LSE:THS) has entered into a five-year agreement with underground mining contractor Cementation Africa to carry out underground development and construction work at the Tharisa Mine in South Africa. The contract represents an important step in the company’s transition beyond solely open-pit mining operations. Structured as an alliance partnership on an open-book, cost-plus model, the arrangement is intended to align operational objectives between both companies while supporting the gradual expansion of underground mining alongside ongoing open-pit activities.

Underground expansion aimed at extending mine life

The partnership is expected to enhance operational performance by improving access to deeper ore zones and supporting the long-term sustainability of the Tharisa Mine. Management said the move forms part of the group’s broader strategy to maximise the value of its multigenerational orebody. Tharisa also expects Cementation Africa’s technical capabilities and established safety standards to contribute to greater operational efficiency and strengthen the company’s sustainability profile over time.

Strategy supports future production growth

By advancing underground development, Tharisa believes it can improve long-term resource utilisation and support future production growth across both platinum group metals and chrome concentrates. The initiative is also expected to reinforce the company’s competitive position within the PGM and chrome markets as demand linked to industrial applications and the global energy transition continues to evolve.

More about Tharisa

Tharisa is an integrated mining and metals group focused on platinum group metals and chrome concentrate production. The company operates across the full mining value chain, including exploration, extraction, processing, beneficiation, marketing, sales and logistics. Its flagship Tharisa Mine in South Africa, together with the Karo Platinum Project in Zimbabwe, supports the group’s long-term growth strategy tied to decarbonisation trends, downstream beneficiation opportunities and battery technology development.