Tharisa inks five-year underground mining contract with Cementation Africa
Johannesburg- and London-listed metals and mining company Tharisa has signed a five-year contract with underground mining contractor Cementation Africa for the execution of the underground mining development and construction works at the Tharisa chrome and platinum group metals mine, near Rustenburg, in South Africa's North West province.
Structured on an alliance contracting model, aligning the interest of both parties, it is underpinned by open book, cost-plus-fee basis and aligned principles, rather than a traditional rates-based, risk transfer model.
The agreement marks a significant milestone in Tharisa's transition to underground mining operations, unlocking the multi-generational potential of the Tharisa mine orebody.
Tharisa on March 31 successfully completed the first blast at the mine, marking the start of development of the first portal.
The agreement is expected to enhance operational efficiency, improve access to deeper orebodies and extend the Tharisa mine's life, says Tharisa, noting that Cementation Africa has extensive technical expertise and a strong record in delivering safe and innovative underground mining solutions.
"This agreement represents an important step in unlocking the full potential of our resource base. Cementation Africa's proven capabilities and safety-focused approach make them an ideal partner as we expand our underground operations," comments Tharisa CEO Phoevos Pouroulis.
Cementation Africa MD Japie du Plessis adds that the company values the trust that Tharisa has placed in its capabilities to safely deliver the underground mining operation.
Owner-miner openpit operations will continue at the Tharisa mine while the underground mine development progresses.
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