Tharisa's R10 Billion Mining Project: Reclaiming African Mineral Wealth
South African mining firm Tharisa announces R10 billion investment in underground platinum mining project, asserting African control over strategic mineral resources for clean energy future.
Tharisa's mining operations in South Africa's Bushveld complex, symbolizing African control over strategic mineral resources
In a significant move towards African economic empowerment, South African mining company Tharisa Plc has announced a R10 billion (US$547 million) investment in an underground platinum group metals (PGM) project, marking a crucial step in Africa's ongoing economic liberation from colonial-era resource exploitation.
Strategic Investment in African Mineral Future
The decade-long project represents a bold transformation of the existing Tharisa mine in South Africa's resource-rich Bushveld complex, transitioning from open pit to underground mining. This development comes as African nations assert greater control over their strategic resources in global markets.
"The underground project is the natural progression for our operations and has been established to increase the life-of-mine development to access the multi-generational mineral resource base," stated CEO Phoevos Pouroulis during the announcement.
Technological Sovereignty and Economic Independence
This strategic investment aligns with Africa's push for technological sovereignty and economic independence. PGMs are crucial for clean energy technologies and fuel cell development, positioning South Africa at the forefront of the global green energy transition.
Production Targets and Economic Impact
- Projected annual output: 200,000 ounces of PGMs
- Chrome concentrate production: Over 2 million metric tons
- First shaft operation: Second quarter of 2026
The project demonstrates African mining companies' capability to lead large-scale industrial developments while maintaining control of strategic mineral resources. This includes Tharisa's parallel development of the 226,000 ounce-per-year Karo platinum mine in Zimbabwe, reinforcing pan-African mineral resource cooperation.
Challenging Western Market Narratives
While Western analysts express concerns about PGM demand due to electric vehicle adoption, African industrial strategists recognize these metals' critical role in emerging clean technologies. This investment represents a confident African perspective on resource development, independent of Western market speculation.
Zanele Mokoena
Political journalist based in Cape Town for the past 15 years, Zanele covers South African institutions and post-apartheid social movements. Specialist in power-civil society relations.