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THARISA PLC - Arxo Metals to operate Western Platinums K3 chrome plant, market and sell UG2 chrome concentrate

Release Date: 31/08/2017 08:00
Code(s): THA     PDF:  
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Arxo Metals to operate Western Platinum’s K3 chrome plant, market and sell UG2 chrome concentrate

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

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