South African miner Tharisa produced a record 1.4 million tonnes of chrome concentrate for the year to September 30, 2018, while a sharp weakening of chrome prices offset the benefit of a higher platinum group metal (PGM) basket price.
Tharisa's chrome concentrate production rose 8.8% year on year and sales rose 24.8% to 1.6 million tonnes. Earnings before interest, tax, depreciation and amortization (Ebitda) dropped 11.8% to $101.9 million while the miner achieved an average contract price of $186 per tonne, cif China for metallurgical chrome concentrate in 2018, down 7% from 2017. "Metallurgical chrome concentrate prices were muted. Against the backdrop of increased...