November 28, 2019 / 7:51 AM / 11 days ago

Tharisa profits dive 83% as output declines

Nov 28 (Reuters) - Miner Tharisa Plc on Thursday reported a nearly 83% plunge in its annual pretax profit as production of platinum group metals and chrome concentrates fell.

Tharisa, which owns and operates a large scale open pit platinum and chrome mine situated in the North West province of South Africa, said pretax profit fell to $11.2 million for the year ended Sept. 30, from $65.0 million a year earlier.

“2019 saw curtailed production at the Tharisa mine, as we embedded our owner miner approach at the asset and redesigned the mining operation,” Chief Executive Officer Phoevos Pouroulis said. (Reporting by Shanima A in Bengaluru; editing by Patrick Graham)

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