Latest news with #Tharisa
Yahoo
05-07-2025
- Business
- Yahoo
South Africa's proposed chrome export tax could lead to job losses
The South African mining industry is facing a potential challenge as the government's proposed chrome ore export tax could negatively affect miners' profitability and lead to job losses, according to a report by Reuters. The Minerals Council South Africa, representing the country's major miners, has expressed concerns that the tax will not support the government's goals of preserving the ferrochrome industry and jobs. South Africa, the world's largest exporter of chrome, has seen its ferrochrome production decline, losing its leading position to China, primarily due to high electricity costs. This has resulted in many smelters shutting down operations. To address this, the South African cabinet announced on 26 June 2025 that it had agreed to lower power tariffs for chrome smelters and proposed a tax on chrome ore exports in a move to revitalise the ferrochrome industry. However, the Minerals Council believes that this move would 'have a negative impact on chrome producers and the significant contribution this industry makes to both South Africa's economy and the jobs it sustains and grows.' The chrome sector in South Africa is a significant employer, directly employing 25,000 people and generating R85bn ($4.85bn) in export revenue in 2024. The country exported a record 20.5 million tonnes (mt) of chrome concentrate in 2024, mainly to China. Companies such as Glencore, Tharisa and South32 are key players in the South African chrome mining and processing industry. South African coal and iron ore exporters, including Glencore and a unit of Anglo American, are preparing to sign investment agreements worth billions of rand with Transnet. These agreements, as stated by B4SA's head of transport and logistics Ian Bird, are to repair critical rail lines and enhance shipment capabilities. "South Africa's proposed chrome export tax could lead to job losses" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
03-07-2025
- Business
- Business Insider
Berenberg Bank Remains a Buy on Tharisa (THS)
Berenberg Bank analyst Richard Hatch reiterated a Buy rating on Tharisa yesterday and set a price target of p200.00. The company's shares closed today at p87.00. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Hatch covers the Basic Materials sector, focusing on stocks such as Rio Tinto, Tharisa, and Resolute Mining . According to TipRanks, Hatch has an average return of 8.4% and a 53.42% success rate on recommended stocks. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Tharisa with a p150.00 average price target. The company has a one-year high of p88.00 and a one-year low of p48.68. Currently, Tharisa has an average volume of 283.1K. Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of THS in relation to earlier this year.
Yahoo
08-06-2025
- Business
- Yahoo
Tharisa PLC (TIHRF) (H1 2025) Earnings Call Highlights: Navigating Challenges with Strategic ...
Revenue: $280.8 million, down 24% year-on-year. EBITDA: $43.8 million, down 45% year-on-year. Net Profit After Tax: $8.2 million for the half year. Cash from Operations: $36 million, down from $86 million in the prior period. Capital Expenditure: $52.5 million, with $12.8 million allocated to Karo Platinum. Cash and Cash Equivalents: $193.6 million at the end of the half year. Headline Earnings Per Share: USD0.029. Interim Dividend: USD0.015 per share, representing 54.3% of NPAT. Share Repurchase Program: Announced a second program of USD5 million. PGM Production: 62,400 ounces. Chrome Concentrate Production: 755,400 tonnes. PGM Basket Price: $1,403 per ounce, up 4.4% from the prior period. Metallurgical Chrome Concentrate Price: $253 per tonne, down 12.2%. Net Cash: $87.6 million as of March 31, 2025. Total Debt: $106.1 million, with 73% as short-term debt. Warning! GuruFocus has detected 5 Warning Sign with TIHRF. Release Date: May 22, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Tharisa PLC (TIHRF) reported industry-leading safety statistics with a lost time injury frequency rate of 0.02 at the Tharisa mine and 0.08 at Karo Platinum. The company maintained a strong cash position, ending the half-year with $193.6 million in cash and cash equivalents. Tharisa PLC (TIHRF) announced a second share repurchase program of USD5 million, following a successful first program. The company is advancing its Redox One long-duration energy storage battery to megawatt scale, indicating progress in energy storage solutions. Tharisa PLC (TIHRF) declared an interim dividend of USD0.015, maintaining a high payout ratio of 54.3% of net profit after tax, reflecting confidence in its business outlook. Revenue for the half-year decreased by 24% to $280.8 million, impacted by lower output and reduced PGM and chrome prices. EBITDA fell by 45% year-on-year to $43.8 million, reflecting operational challenges and lower commodity prices. The company faced severe weather disruptions, including thunderstorms and lightning, which affected operations in the first half. Tharisa PLC (TIHRF) experienced a decrease in net cash flow from operations, down to $36 million from $86 million in the prior period. The metallurgical chrome concentrate price dropped by 12.2%, contributing to the overall decline in revenue. Q: What is the outlook for chrome production in the next half of the year? A: Phoevos Pouroulis, CEO, stated that Tharisa has not revised its guidance and remains cautiously optimistic about meeting the lower end of its annual guidance for PGMs and chrome production. The company expects an improved second half due to a drier season and successful waste stripping to access reef horizons. Q: How is Tharisa addressing potential industrial action affecting logistics, particularly with Transnet? A: Phoevos Pouroulis, CEO, explained that Tharisa utilizes three portsRichards Bay, Durban, and Maputoproviding flexibility to redirect cargoes if needed. This multi-port strategy has proven effective in mitigating disruptions. Q: What are the implications of chrome being classified as a critical mineral in South Africa? A: Phoevos Pouroulis, CEO, welcomed the classification, noting that it aligns with Tharisa's strategy of beneficiation and product diversification. The company expects potential government support to enhance local value and accelerate projects like redox flow electrolyte production. Q: When will Tharisa's surface mine volumes start declining as underground mining ramps up? A: Phoevos Pouroulis, CEO, indicated that steady-state production from the underground mine is expected by 2029, allowing for continued open-pit mining until 2034. The transition provides flexibility and the potential to increase production capacity. Q: How is Tharisa mitigating weather-related disruptions, particularly from rainfall and lightning? A: Phoevos Pouroulis, CEO, highlighted the implementation of a comprehensive water management strategy, including dewatering boreholes and upgraded pumping capacity. For lightning, the company is considering reducing the storm scope radius to minimize operational disruptions. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
