Tharisa expects its electricity demand to double at its mine near Marikana in South Africa’s North West province as the operation moves underground, the company said Tuesday.
The Tharisa Mine, which produces platinum group metals and chrome from the Bushveld Complex, currently operates as an open pit. The company is developing an underground operation to reach deeper resources and extend the mine’s life.
The expected jump in Tharisa electricity demand comes as mining shifts below the surface and some energy needs move from diesel to electricity. The company is therefore preparing to buy additional renewable power to cover the mine’s full future requirements, said Cosmas Chiteme, the group energy manager.
The announcement follows the start of renewable deliveries under a long-term deal with Etana Energy. Tharisa received its first wheeled renewable electricity in September, generated by a wind farm in Mpumalanga. The initial supply is expected to meet about 10% of the mine’s current monthly electricity demand.
Wheeling means the power is generated elsewhere and delivered to the customer through the grid, which lets the mine reduce its reliance on conventional grid electricity.
Under the power purchase agreement signed in July 2024, Etana is forecast to supply about 70% of the current electricity needs of Tharisa Minerals, the company’s operating subsidiary. Wheeled solar power is due to start in the first quarter of 2027, with more wind supply later that year.
That 70% covers only the existing open-pit operation. With underground mining set to double demand, the same supply would cover a smaller share of the mine’s total consumption, which helps explain why Tharisa is looking for more.
Tharisa says the renewable supply should lower energy costs and reduce Scope 2 emissions, which are indirect emissions tied to purchased electricity. The group is targeting a 30% cut in carbon emissions by 2030.
The underground shift is a long-term plan for the mine. Industry mine data show mineral reserves extending beyond the open-pit shell, and the underground expansion is meant to sustain the mine for more than 50 years.
Tharisa is one of the world’s largest single chrome resources, according to the same data, and sits on the southwestern limb of the Bushveld Complex, which hosts the largest known resource of platinum group metals, chromium and vanadium.
Tharisa trades in London under the ticker THS and had a market value of about £364 million on Tuesday, according to SP Angel.
As reported, the company did not say how much additional renewable power it plans to buy, when it would sign new deals or when the underground operation will reach full production.
