(Alliance News) - Tharisa PLC on Tuesday said it will place all of its South African mining operations on care and maintenance due to a forced 21-day lockdown.
On Monday, South African President Cyril Ramaphosa said a three-week lockdown will be imposed from midnight Thursday, in a bid to slow the Covid-19 outbreak.
Tharisa said it fully supports the government's initiatives in dealing with the Covid-19 pandemic and will implement all measures as instructed by the government.
The company said it 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 and the plants will be placed on care and maintenance on Thursday.
Existing chrome ore shipments will continue as long as permissible. Platinum group metals concentrates produced will be delivered prior to shut down, Tharisa said. However, ongoing projects will be suspended.
Looking ahead, Tharisa said it is planning to commence production with effect of the morning shift on April 17.
The stock closed untraded in Johannesburg on Tuesday, last quoted at ZAR11.30 a share, while in London the shares were trading 2.3% lower at 42.00 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Tharisa (THS)