South Africa’s Tharisa plans to invest $547m in an underground platinum group metals mining project over the next decade. CEO Phoevos Pouroulis aims to increase operational efficiency and maintain high standards of health and safety. The shift to underground mining is crucial to access multigenerational mineral resources.

PGMs are essential for clean technologies despite concerns about electric vehicle adoption. Tharisa’s mechanised underground operations will enhance efficiency, lower costs, and boost output. Production projections include 200,000oz of PGMs and over 2mt of chrome concentrate annually, starting in 2026.

Tharisa’s 2025 projections include 140,000–160,000oz of PGMs and 1.65-1.8mt of chrome concentrates. The company is also developing the Karo platinum mine in Zimbabwe. This project, along with the underground mine in South Africa, aims to ensure a sustainable supply of PGMs for the future world.

Tharisa’s investment in the underground platinum project in South Africa aligns with the global need for PGMs in fuel cell technologies and clean hydrogen applications. The company’s commitment to long-term value creation and sustainability highlights its role in the transition to a cleaner, greener future.

Read more at Yahoo Finance: Tharisa to invest $547m in underground platinum project in South Africa