REG - Tharisa PLC - Independent Competent Persons' Report Karo Project

TharisaAnnouncement

22/04/2025 11:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250422:nRSV6703Fa&default-theme=true

RNS Number : 6703F  Tharisa PLC  22 April 2025

Tharisa plc

(Incorporated in the Republic of Cyprus with limited liability)

(Registration number HE223412)

JSE share code: THA

LSE share code: THS

A2X share code: THA

ISIN: CY0103562118

LEI: 213800WW4YWMVVZIJM90

('Tharisa' or the 'Company')

 

INDEPENDENT COMPETENT PERSONS' REPORT ON THE KARO PLATINUM PROJECT

 

Tharisa is pleased to announce that it has uploaded the Independent Competent
Persons' Report ('CPR') on the Karo Platinum PGE Project ('the Project') in
Zimbabwe dated 9 April 2025 on its website www.tharisa.com
(http://www.tharisa.com) .

The Company is an effective 65.59% shareholder in Karo Platinum (Private)
Limited ('Karo Platinum') and is listed on the Johannesburg Stock Exchange
('JSE') and the London Stock Exchange. The CPR has been commissioned to comply
with the regulations of the JSE for listed companies, with the purpose of
presenting the Mineral Resources and Mineral Reserves of the Project and of
valuing the mineral asset.

The CPR is compiled in compliance with the South African Code for Reporting of
Exploration Results, Mineral Resources and Mineral Reserves (2016 Edition)
(SAMREC Code), and the South African Code for the Reporting of Mineral Asset
Valuation (2016 Edition) (SAMVAL Code). All requirements of Section 12.10 of
the JSE Listings Requirements for Mineral Companies and the SAMREC Code and
SAMVAL Code have been complied with.

The Competent Persons responsible for this CPR are Kenneth Graham Lomberg
(Geology and Mineral Resources), Otto Wilhelm Warschkuhl (Mineral Processing,
Mineral Extraction, and Mineral Reserves) and Jacobus Adriaan Myburgh (Mineral
Economics). Iaan Myburgh also acts as the Competent Valuator for this CPR.

Karo Platinum is a PGM asset under construction, located some 85 km
west-southwest of Harare in the Mashonaland West Province of Zimbabwe. Mine
development will initially comprise the sequential development of four open
pits. Ore will be processed at an on-site, 220 ktpm processing facility.

All licences and permits are held in the name of Karo Platinum. Karo Platinum
has addressed Zimbabwean legal compliance requirements, including licencing
and environmental and social aspects. There are no major risks identified in
association with the current and planned permitting.

 

Paphos, Cyprus

22 April 2025

JSE Sponsor

Investec Bank Limited

Connect with us on LinkedIn
(https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2F8630834%2Fadmin%2Ffeed%2Fposts%2F&data=05%7C02%7Csdewitt%40tharisa.com%7Cb4359cc34f9f411b94d008dc8950d0f3%7C9b0829b9be394336a766f8c9dc2c71a4%7C0%7C0%7C638536227402219626%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=FaLKMxZnAr%2BTbs9l3R01HVBM4CLQ0nk28BRyfjz79%2Bs%3D&reserved=0)
to get further news and updates about our business.

 

Investor Relations Contacts:

Ilja Graulich (Head of Investor Relations and Communications)

+27 11 996 3500

+27 83 604 0820

igraulich@tharisa.com (mailto:igraulich@tharisa.com)

Broker Contacts:

Peel Hunt LLP (UK Joint Broker)

Ross Allister / Georgia Langoulant

+44 207 418 8900

 

BMO Capital Markets Limited (UK Joint Broker)

Thomas Rider / Nick Macann

+44 207 236 1010

 

Berenberg (UK Joint Broker)

Matthew Armitt / Jennifer Lee / Detlir Elezi

+44 203 207 7800

 

About Tharisa

Tharisa is an integrated resource group critical to the energy transition and
decarbonisation of economies. It incorporates exploration, mining, processing
and the beneficiation, marketing, sales, and logistics of PGMs and chrome
concentrates, using innovation and technology as enablers. Its principal
operating asset is the multi-generational Tharisa Mine, located in the
south-western limb of the Bushveld Complex, South Africa. Tharisa is also
developing the Karo Platinum Project, a tier-one PGM asset located on the
Great Dyke in Zimbabwe, while simultaneously focusing on beneficiation in the
form of chrome and PGM alloys. A 15-year Power Purchase Agreement for the
procurement of wheeled renewable energy and a 40 MW solar project will ensure
that Tharisa Minerals' drive to reduce its carbon footprint by 30% by 2030 is
well within reach, forming a major part of a roadmap to become net carbon
neutral by 2050. Redox One is accelerating the development of a proprietary
iron chromium redox flow long-duration battery utilising the commodities we
mine. Tharisa plc is listed on the Johannesburg Stock Exchange (JSE: THA) and
the Main Board of the London Stock Exchange (LSE: THS).

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCUUVWRVNUSURR