Tharisa PLC Arxo Metals to operate Western Platinum's K3 plant (3433P)
August 31 2017 - 2:00AM
UK Regulatory
TIDMTHS
RNS Number : 3433P
Tharisa PLC
31 August 2017
Tharisa plc
(Incorporated in the Republic of Cyprus with limited
liability)
(Registration number HE223412)
JSE share code: THA
LSE share code: THS
ISIN: CY0103562118
(Tharisa)
Arxo Metals to operate Western Platinum's K3 chrome plant,
market and sell UG2 chrome concentrate
Arxo Metals Proprietary Limited (Arxo Metals), a producer of
specialised higher margin chemical and foundry grade chrome
concentrates and a subsidiary of Tharisa, has entered into an
agreement with Western Platinum Limited, a subsidiary of Lonmin
Plc, on the operation of its K3 UG2 chrome plant (K3) and for the
marketing and sales of the UG2 chrome concentrate produced. The
agreement is effective as of 29 August 2017.
Arxo Metals will unlock greater value for Lonmin from K3 using
innovative technology already in use at Tharisa's operations, where
chrome recoveries for the six months to 31 March 2017 improved to
68.4% with a target recovery of 65%.
The agreement is in line with Tharisa's strategic objective of
initiating third-party trading, adding approximately 200 kt to
chrome sales annually.
"The marketing and sales of UG2 chrome from K3 expands the
basket of chrome concentrates sold by Tharisa and leverages off its
established logistics and marketing platforms," said Tharisa CEO
Phoevos Pouroulis.
Paphos, Cyprus
31 August 2017
JSE Sponsor
Investec Bank Limited
Investor Relations contact:
Tharisa plc
Sherilee Lakmidas
+27 11 996 3538
+27 79 276 2529
slakmidas@tharisa.com
Broker contacts:
Peel Hunt LLP (Joint Broker)
Ross Allister/ Chris Burrows
+44 207 7418 8900
BMO Capital Markets Limited (Joint Broker)
Jeffrey Couch/Neil Haycock/Thomas Rider
+44 020 7236 1010
Financial PR contacts:
Buchanan
+44(0) 20 7466 5000
tharisa@buchanan.uk.com
This information is provided by RNS
The company news service from the London Stock Exchange
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