Tharisa PLC South African government imposed lockdown COVID-19 (4028H)
24 Marzo 2020 - 8:00AM
UK Regulatory
TIDMTHS
RNS Number : 4028H
Tharisa PLC
24 March 2020
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')
Statement by Tharisa on South African government imposed
lockdown due to COVID-19
Tharisa notes the statement by the President of South Africa,
Cyril Ramaphosa, of a three-week national shutdown, as part of wide
-ranging interventions to combat the spread of COVID-19.
South Africa will be in a forced 21-day lockdown from midnight
on Thursday, 26 March 2020, until midnight Thursday, 16 April 2020.
All of South Africa's mining operations will be required to be
placed on care and maintenance.
Tharisa fully supports the government's initiatives in dealing
with the COVID-19 pandemic and will implement all measures as
instructed by the government. As members of the Minerals Council,
we will also be guided by the best practice frameworks put in place
for the industry.
Tharisa will proceed with a systematic process of placing its
assets on care and maintenance while ensuring both the health and
wellbeing of its employees, and that its assets are protected.
Mining will be suspended post the night shift on Wednesday, 25
March 2020, and the plants will be placed on care and maintenance
on Thursday, 26 March 2020.
The Company has put in detailed care and maintenance procedures
for this period that will ensure start-up will be efficient post
the lockdown.
Existing chrome ore shipments will continue as long as
permissible. PGM concentrates produced will be delivered prior to
shut down.
Ongoing projects will be suspended.
Security will remain on site 24 hours a day as permitted under
the lockdown conditions.
Tharisa is planning to commence production with effect of the
morning shift on Friday, 17 April 2020.
Given the above, Tharisa's guidance for the year is suspended
until the Company is in a better position to quantify the full
impact of the lockdown and will keep the market informed of any
developments during this period.
Paphos, Cyprus
24 March 2020
JSE Sponsor
Investec Bank Limited
Investor relations contacts:
Ilja Graulich (Head of Investor Relations and
Communications)
+27 11 996 3500
+27 83 604 0820
igraulich@tharisa.com
Financial PR contacts:
Bobby Morse / James Husband
+44 020 7466 5000
tharisa@buchanan.uk.com
Broker contacts:
Peel Hunt LLP (UK Joint Broker)
Ross Allister / David McKeown
+44 207 7418 8900
BMO Capital Markets Limited (UK Joint Broker)
Thomas Rider / Neil Elliot / Michael Rechsteiner
+44 020 7236 1010
Berenberg (UK Joint Broker)
Matthew Armitt / Detlir Elezi
+44 20 3207 7800
Nedbank Limited (acting through its Corporate and Investment
Banking division) (RSA Broker)
Shabbir Norath
+27 11 295 6575
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END
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