Tharisa Plc extends option to acquire 90percent stake in Zim operation

Oliver Kazunga, Acting Business Editor

SOUTH African chrome and platinum group metal (PGM) producer, Tharisa Plc, has extended the option to acquire 90 percent stake in Salene Chrome Zimbabwe (Pvt) Limited to March.

This follows a recent announcement by Tharisa that it had acquired an option to acquire a 90 percent shareholding in Salene from Leto Settlement.

In a statement released this week, Tharisa Plc advised shareholders that it has extended an option to acquire a 90 percent shareholding in Salene Chrome Zimbabwe (Pvt) Limited from Leto Settlement.

“Shareholders are now advised that the parties have agreed to extend the option to acquire the 90 percent shareholding in Salene Chrome to March 31, 2021,” reads part of the statement.

The South African-based mining group in 2018 announced the intent to invest an initial US$3,2 million on the Zimbabwean project.

At the time, Tharisa had a strong cash balance of around US$60 million. – @okazunga