Tharisa signs 5-year underground mining contract
Tharisa plc has signed a five-year underground mining contract with Cementation Africa Proprietary Limited for development and construction works at the Tharisa Mine, marking a significant step in the company's transition to underground operations. This alliance contracting model, based on an open book, cost-plus fee structure, aims to align interests and unlock the orebody's multi-generational potential, with owner-miner open pit operations continuing concurrently. The partnership is expected to enhance operational efficiency, improve access to deeper ore bodies, and extend the mine's life.
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('Tharisa')
Tharisa MINERALS Signs Five-Year Underground Mining Contract with Cementation AFRICA
Tharisa, the mining, metals, and innovation company dual-listed on the Johannesburg and London stock exchanges, is pleased to announce that it has concluded a five-year contract with Cementation Africa Proprietary Limited ('Cementation Africa') for the execution of the underground mining development and construction works at the Tharisa Mine. The signing follows on from the successful first blast on 31 March 2026 marking the commencement of the development of the first portal at the Tharisa Mine.
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.
The owner miner open pit operations will continue concurrently with the underground mine development.
Cementation Africa is a leading underground mining contractor with a reputation for delivering complex projects safely, on time and to specification while upholding the highest standards of quality.
The partnership is expected to enhance operational efficiency, improve access to deeper ore bodies, and extend the life of mine. Cementation Africa brings extensive technical expertise and a strong track record in delivering safe and innovative underground mining solutions, aligning with Tharisa's commitment to operational excellence and sustainability.
Phoevos Pouroulis, CEO of Tharisa commented:
'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.'
Japie Du Plessis, MD of Cementation Africa commented:
'Cementation Africa values the trust that Tharisa placed in our capabilities to safely deliver its underground mining operation.'
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