keywords :
Tharisa Plc, which mines chrome and platinum group metals in South Africa, plans to start trading on the Johannesburg Stock Exchange (JSE) and seeks to raise 1 billion rand ($93 million) in a private share placement.
The company wants to acquire “large-scale and low-cost projects that are in or close to production,” Paphos, Cyprus-based Tharisa said in a statement today. Its mine near Rustenburg, 95 kilometers (59 miles) northwest of Johannesburg, made a cash profit in the year ended Feb. 28 and was operating at about 87 percent of planned capacity of 4.8 million metric tons of ore a year, it said.
Offers for shares “can only be made at an aggregate acquisition cost of no less than 1 million rand,” Tharisa said in the statement. Trading on JSE Ltd. will start on April 8.