Tharisa Resources has decided to develop a mine producing 190,000 oz/year of platinum group metals as well as 3.8Mt/year of chrome ore.

Loucas Pouroulis, the mining entrepreneur, who set-up the company, told miningmx.com that although the proposed 600,000 tonnes/year ferrochrome smelter near Rustenburg had been put on hold pending clarification of the South African power situation, they would still list Tharisa Resources in London and Johannesburg.

Mr Pouroulis also confirmed that Barry Davison has been appointed as Non-Executive Chairman at the firm.

Mr Davison is a former Chairman and Chief Executive Officer of Anglo Platinum and retired last year.

The initial development in Tharisa has so far received $70 million of funding from private investors but the construction of the mine would require a further investment of R2 billion.

If the ferrochrome smelter then got the go-ahead it would cost about R6 billion to construct.

Source:

Pouroulis trio for the JSE this year, 26/02/08
http://www.miningmx.com/juniors/968738.htm

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