{"id":44499,"date":"2025-04-11T09:30:10","date_gmt":"2025-04-11T09:30:10","guid":{"rendered":"https:\/\/www.premium-partners.net\/?p=44499"},"modified":"2025-04-11T14:19:42","modified_gmt":"2025-04-11T14:19:42","slug":"tharisa-sees-stable-pgm-prices-as-chrome-demand-rebounds-amidst-trade-uncertainties","status":"publish","type":"post","link":"https:\/\/www.premium-partners.net\/fr\/builder\/tharisa-sees-stable-pgm-prices-as-chrome-demand-rebounds-amidst-trade-uncertainties\/","title":{"rendered":"Tharisa sees stable PGM prices as chrome demand rebounds amidst trade uncertainties"},"content":{"rendered":"

This post<\/a> was originally published on this site<\/a><\/p>

<\/p>\n

Tawanda Karombo<\/span><\/p>\n

Phoevos Pouroulis, <\/span>the <\/span>CEO of Tharisa<\/span> said on Thursday that demand for chrome has been rebounding while platinum group metals (PGM) prices in rand terms have stabilised although global trade wars are ocassioning economic uncertainty that could dent demand for some commodities.<\/span><\/p>\n

Tharisa is a PGM and chrome miner and processor in South Africa. <\/span><\/p>\n

According to Pouroulis, \u201c<\/span>chrome has rebounded strongly<\/span>\u201d as \u201c<\/span>PGM basket price is<\/span> <\/span>relatively stable in <\/span>r<\/span>and terms<\/span>\u201d due to the d<\/span>evaluation of <\/span>the South African currency. <\/span><\/p>\n

Nonetheless, <\/span>the impact of the trade wars on the <\/span>outlook for global economic growth <\/span>\u201c<\/span>is creating an uncertain and volatile environment which may impact on<\/span> <\/span>demand<\/span>\u201d<\/span> for commodities.<\/span><\/p>\n

The US government has roiled markets after it introduced tariffs on major global source markets although on Wednesday President Donald Trump said he was pausing these tariffs for 90 days except for China.<\/span><\/p>\n

\u201c<\/span>While both PGM and chrome are not subject to US tariffs, the intermediate and final <\/span>products containing these commodities will be<\/span>,<\/span>\u201d<\/span> said Pouroulis.<\/span><\/p>\n

During the quarter to the end of March, Tharisa raised PGM production to 32 500 ounces compared to 29 900 ounces in the same quarter a year earlier. The PGM production for the period came at a rougher feed grade of 1.42 grams per ton compared to 1.39 grams per ton a year earlier against a recovery rate of 67.4%.<\/span><\/p>\n

The company\u2019s chrome production for the same quarter was also higher at <\/span>381<\/span> 000 tons compared to 374 400 tons previously at a slightly lower grade of 16.7%. Tharisa has set a production guidance of between 140 000 ounces and 160 000 ounces for PGMs as well as between 1.65 million tons and to 1.8 million tons for chrome concentrates.<\/span><\/p>\n

Before the US roiled global markets with its tariffs, Tharisa said <\/span>PGM prices saw good support<\/span> as markets realised that <\/span>the supply demand gap needs price recalibration to ensure future re-balance. <\/span><\/p>\n

\u201c<\/span>The impact of the trade<\/span> <\/span>tariffs, particularly on the motor trade, on future demand for motor vehicles may impact PGM demand and<\/span> <\/span>prices going forward<\/span>,\u201d explained Tharisa.<\/span><\/p>\n

Chrome <\/span>prices have <\/span>however <\/span>advanced from pre-December 2024 quarterly lows, with spot trading at $300<\/span> per ton. P<\/span>ort stocks <\/span>are currently at <\/span>six to eight week<\/span>s of<\/span> inventory levels. <\/span>At the same time, d<\/span>emand for chrome remains strong, with <\/span>\u201c<\/span>logistics<\/span> <\/span>pipelines operating<\/span>\u201d<\/span> normally.<\/span><\/p>\n

However, after the US implemented higher reciprocal <\/span>tariffs on all Chinese i<\/span>mports<\/span>, there is likely to be a bigger impact.<\/span><\/p>\n

With <\/span>China being <\/span>a <\/span>main market for chrome concentrates, <\/span>Tharisa reckons that the <\/span>likely impact on <\/span>demand for stainless steel is uncertain at this time <\/span>although it may affect <\/span>demand and prices for chrome.<\/span><\/p>\n

Over the quarter period under review, <\/span>metallurgical grade chrome concentrate prices <\/span>averaged <\/span>$235<\/span> ton.<\/span><\/p>\n

These pricing movements for PGM and chrome have left Tharisa with c<\/span>ash on hand of $186<\/span>m <\/span>and debt of<\/span> <\/span>$106.7<\/span>m<\/span>, resulting in a net cash position of $79.3<\/span>m.<\/span><\/p>\n

The quarter period to the end of March was <\/span>dampened by unprecedented rainfall and weather interruptions, which necessitated higher than<\/span> <\/span>budgeted in pit evacuations<\/span>. This was <\/span>in line with safety protocols <\/span>although it <\/span>affected mining mix and volumes.<\/span><\/p>\n

In the outlook, Tharisa is looking up to the d<\/span>ryer winter months <\/span>that are expected <\/span>to lead to more normal production output.<\/span><\/p>\n

Tharisa endured a significantly tougher start to its 2025 financial year, with output of chrome and platinum group metals <\/span>for the quarter to December <\/span>down, impacted by erratic availability of drilling equipment while pricing weakness for its commodities persisted inspite of supply and demand deficits.<\/span><\/p>\n

BUSINESS REPORT<\/strong><\/p>","protected":false},"excerpt":{"rendered":"

Tawanda KaromboPhoevos Pouroulis,\u00a0the\u00a0CEO of Tharisa said on Thursday that demand for chrome has been rebounding while platinum group metals (PGM) prices in rand terms have stabilised although global trade wars are ocassioning economic uncertainty that could dent demand for some commodities.Tharisa is a PGM and chrome miner and processor in South Africa. According to Pouroulis, \u201cchrome has rebounded strongly\u201d as \u201cPGM basket price is\u00a0relatively stable in\u00a0rand terms\u201d due to the devaluation of\u00a0the South African currency. Nonetheless,\u00a0the impact of the trade wars on the outlook for global economic growth\u00a0\u201cis creating an uncertain and volatile environment which may impact on\u00a0demand\u201d\u00a0for commodities.The US government has roiled markets after it introduced tariffs on major global source markets although on Wednesday President Donald Trump said he was pausing these tariffs for 90 days except for China.\u201cWhile both PGM and chrome are not subject to US tariffs, the intermediate and final products containing these commodities will be,\u201d\u00a0said Pouroulis.During the quarter to the end of March, Tharisa raised PGM production to 32 500 ounces compared to 29 900 ounces in the same quarter a year earlier. The PGM production for the period came at a rougher feed grade of 1.42 grams per ton compared to 1.39 grams per ton a year earlier against a recovery rate of 67.4%.The company\u2019s chrome production for the same quarter was also higher at\u00a0381 000 tons compared to 374 400 tons previously at a slightly lower grade of 16.7%. Tharisa has set a production guidance of between 140 000 ounces and 160 000 ounces for PGMs as well as between 1.65 million tons and to 1.8 million tons for chrome concentrates.Before the US roiled global markets with its tariffs, Tharisa said PGM prices saw good support\u00a0as markets realised that\u00a0the supply demand gap needs price recalibration to ensure future re-balance.\u00a0\u201cThe impact of the trade\u00a0tariffs, particularly on the motor trade, on future demand for motor vehicles may impact PGM demand and\u00a0prices going forward,\u201d explained Tharisa.Chrome\u00a0prices have\u00a0however\u00a0advanced from pre-December 2024 quarterly lows, with spot trading at $300 per ton. Port stocks\u00a0are currently at\u00a0six to eight weeks of\u00a0inventory levels.\u00a0At the same time, demand for chrome remains strong, with\u00a0\u201clogistics\u00a0pipelines operating\u201d\u00a0normally.However, after the US implemented higher reciprocal\u00a0tariffs on all Chinese imports, there is likely to be a bigger impact.With\u00a0China being\u00a0a\u00a0main market for chrome concentrates,\u00a0Tharisa reckons that the\u00a0likely impact on\u00a0demand for stainless steel is uncertain at this time\u00a0although it may affect\u00a0demand and prices for chrome.Over the quarter period under review,\u00a0metallurgical grade chrome concentrate prices averaged\u00a0$235 ton.These pricing movements for PGM and chrome have left Tharisa with cash on hand of $186m\u00a0and debt of\u00a0$106.7m, resulting in a net cash position of $79.3m.The quarter period to the end of March was\u00a0dampened by unprecedented rainfall and weather interruptions, which necessitated higher than\u00a0budgeted in pit evacuations. This was\u00a0in line with safety protocols\u00a0although it\u00a0affected mining mix and volumes.In the outlook, Tharisa is looking up to the dryer winter months\u00a0that are expected\u00a0to lead to more normal production output.Tharisa endured a significantly tougher start to its 2025 financial year, with output of chrome and platinum group metals\u00a0for the quarter to December\u00a0down, impacted by erratic availability of drilling equipment while pricing weakness for its commodities persisted inspite of supply and demand deficits.BUSINESS REPORT<\/p>","protected":false},"author":1,"featured_media":44501,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-44499","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-builder"],"_links":{"self":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts\/44499","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/comments?post=44499"}],"version-history":[{"count":1,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts\/44499\/revisions"}],"predecessor-version":[{"id":44500,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts\/44499\/revisions\/44500"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/media\/44501"}],"wp:attachment":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/media?parent=44499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/categories?post=44499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/tags?post=44499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}