Tharisa PGM and chrome production up in second quarter

Tharisa PLC (JSE: THA) reported increased production of platinum group metals (PGMs) and chrome concentrates for the second quarter of fiscal year 2025, ended March 31, 2025. PGM production rose to 32.5 koz, up from 29.9 koz in the previous quarter. Chrome concentrate production reached 381.0 kt, compared to 374.4 kt in the first quarter. The average PGM basket price increased to US$1,421/oz. However, metallurgical grade chrome concentrate prices averaged US$235/t CIF China. The company's cash on hand stood at US$186.0 million, with debt at US$106.7 million, resulting in a net cash position of US$79.3 million. Tharisa reaffirmed its full-year production guidance of 140 koz to 160 koz for PGMs and 1.65 Mt to 1.8 Mt for chrome concentrates.