Modern Mining March 2022

Tharisa unlocks value for BEE shareholders

assets. As public shareholders of Tharisa, they will benefit from diversification and the broader success of the company, receive dividends, and create financial flexibility.” 

Platinum group metals and chrome co- producer producer, Tharisa Minerals, has acquired the remaining 26% shareholding in the company, in a landmark broad-based black economic empowerment (BEE) transaction. Tharisa offered 13.9-million new shares (equivalent to $25.6 million) in exchange for the 26% of Tharisa Minerals it does not own. Tharisa Mineral’s principal asset is the long-life open pit Tharisa Mine, which produces platinum group metals (PGM) and chrome in a mechanised, low cost and energy efficient environment, with prod- uct beneficiation taking place on site. The company currently owns 74% of the ordi- nary shares of Tharisa Minerals, with the BEE shareholders Thari Resources own- ing 20% and The Tharisa Community Trust owning 6%. Phoevos Pouroulis, CEO of Tharisa, commented: “We believe this agreement is a landmark transaction. It is truly empow- ering and in the spirit of the Minerals and Petroleum Resources Act. Local stake-

holders have been central to Tharisa’s success, and we want to ensure they continue to ben- efit from the value we create from Tharisa’s flagship mine, as well as our other value-add

Phoevos Pouroulis, CEO of Tharisa.

Tharisa mine.

March 2022  MODERN MINING  7