South Africa’s Tharisa Public Limited Company (PLC) announced plans to invest $547 million over the next decade to transition its platinum-group metals (PGM) and chrome operations from open-pit to underground mining at its Bushveld complex. The expansion aims to extend the mine’s life and access deeper ore bodies previously uneconomical to reach.

The first underground ore is expected by mid-2026, extracted through two new shafts. Once fully operational, the project is projected to produce around 200 000 ounces of PGMs per year and more than two million metric tonnes of chrome concentrate. Tharisa also intends to advance its Karo platinum mine in Zimbabwe as a parallel greenfield project, strengthening the company’s regional footprint in the platinum sector.

South Africa is the world’s leading source of platinum-group metals (PGMs) and chrome, minerals essential for clean energy and industrial production. PGMs power hydrogen fuel cells and catalytic converters, while chrome is vital for stainless steel. Most of these resources lie in the Bushveld Complex, giving South Africa a unique strategic role in global supply chains.