Tharisa: JSE listing to raise R1bn for mine

Cyprus-based Tharisa planned to list on the JSE on April 8 when it would issue up to 23 million shares to raise R1 billion to pay off debt, and fund its product pipeline, the chrome and platinum producer said yesterday. “Listing on the JSE will provide us with a platform to pursue our objective to become a leading natural resources company to service growing global demand in platinum group metals, chrome and other steel raw material sectors through integrated mining, processing, marketing, sales and logistics operations,” Tharisa chief executive Phoevos Pouroulis said. Tharisa owns 74 percent of the Tharisa mine on the Bushveld Complex about 35km east of Rustenburg, which has one of the world’s biggest single chrome resources. The rest of the mine is owned by a black economic empowerment company and a community trust. – Dineo Faku