Tharisa plc

(Incorporated in the Republic of Cyprus with limited liability)

(Registration number HE223412)

JSE share code: THA

LSE share code: THS

A2X share code: THA

ISIN: CY0103562118

LEI: 213800WW4YWMVVZIJM90

('Tharisa' or the 'Company')

THARISA APPOINTS BERNARD PRYOR AS MANAGING DIRECTOR OF KARO MINING HOLDINGS

Bernard brings over 35 years of experience to Karo

Tharisa, the platinum group metals (PGMs) and chrome co-producer listed on the Johannesburg and London stock exchanges, is pleased to announce that Bernard Pryor has been appointed as Managing Director ('MD') of Karo Mining Holdings Limited ('Karo Holdings'). Tharisa announced on 31 March 2022 that it has exercised its farm-in option and increased its stake in Karo Holdings to 66.3%.  Karo Holdings holds an indirect 85% interest in the Karo Platinum Project in Zimbabwe.

Bernard is a Metallurgical Engineer by background with over 35 years' experience in the international mining industry. He has held senior executive positions across a range of disciplines, including project acquisition, evaluation, development, and construction and has run large-scale fully operational mining assets. His experience also includes international commercial and general management, most notably in Australia, Brazil, West and Southern Africa, the Middle East and Russia. Recently, Bernard was CEO of Alufer Mining where, under his supervision, its flagship Bel Air bauxite mine in the Republic of Guinea was developed and put into production. Bernard has also held positions as CEO of African Minerals Limited and Q Resources plc. Between 2006 and 2010 he held senior positions within Anglo American Plc as Head of Business Development and was CEO of Anglo Ferrous Brazil Inc.

Phoevos Pouroulis, CEO of Tharisa, commented:

"We are privileged to have Bernie join our team as we embark on this transformative journey, developing our Tier 1 Karo Platinum asset in Zimbabwe. His technical expertise coupled with developing mines around the globe ensures we have leadership in place that will deliver on our stated objectives. I look forward to working with Bernie as we develop our second high-grade, low-cost and high-return PGM asset."

Paphos, Cyprus

4 April 2022

JSE Sponsor

Investec Bank Limited

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Investor relations contacts:

Ilja Graulich (Head of Investor Relations and Communications)

+27 11 996 3500

+27 83 604 0820

[email protected] 

Financial PR contacts:

Bobby Morse / Ariadna Peretz / James Husband

+44 207 466 5000

[email protected] 

Broker contacts:

Peel Hunt LLP (UK Joint Broker)

Ross Allister / David McKeown / Alexander Allen

+44 207 7418 8900

BMO Capital Markets Limited (UK Joint Broker)

Thomas Rider / Pascal Lussier Duquette / Nick Macann

+44 207 236 1010

Berenberg (UK Joint Broker)

Matthew Armitt / Jennifer Wyllie / Detlir Elezi

+44 203 207 7800

Nedbank Limited (acting through its Corporate and Investment Banking division) (RSA Broker)

Carlyle Whittaker

+27 11 294 0061

About Tharisa

Tharisa is an integrated resource group critical to the energy transition and decarbonisation of economies. It incorporates mining, processing, exploration, and the beneficiation, marketing, sales, and logistics of PGMs and chrome concentrates, using innovation and technology as enablers. Its principal operating asset is the Tharisa Mine located in the south-western limb of the Bushveld Complex, South Africa. The mechanised mine has a 20-year open-pit life and the ability to extend operations underground by at least an additional 40 years. Tharisa also owns Karo Mining Holdings and Salene Chrome, both development stage, low-cost, open-pit assets, located on the Great Dyke in Zimbabwe.  The Company is committed to reducing its carbon emissions by 30% by 2030 and the development of a roadmap is continuing to be net carbon neutral by 2050. Tharisa plc is listed on the Johannesburg Stock Exchange (JSE: THA) and the Main Board of the London Stock Exchange (LSE: THS).