Tharisa (THS · LSE)

Energy & MaterialsLSEUKMid-cap

A Precious Metals Miner, Powered by Innovation

A London and Johannesburg listed miner uniquely producing both platinum group metals and chrome from the same ore body, backed by a strong balance sheet, dividend policy and a major PGM growth project in Zimbabwe.

Tharisa PLC

THS: LSE

125.00 GBp

+2.04%

year to date

Market Cap£8.20B

Avg Volume91.38K

PriceGBp125.00-0.79%

P/E Ratio4.27ttm

Pricing delayed 20 minutes Sep 7, 2026, 12:00 AM

Bull case for Tharisa

Essential Metals for the Energy Transition
PGMs and chrome enable decarbonisation and industrial demand.
Embedded Growth Pipeline
Two long-life, low-cost projects already underway.
Strong Balance Sheet and Shareholder Returns
Cash generative, dividend paying, with upside from buybacks.

Bear case for Tharisa

Zimbabwe Political Risk
Zimbabwe risks could affect Karo’s timing or economics.
Execution Risk on Growth Projects
Execution stumbles in underground transition or project delivery.
Commodity Price Volatility
PGM price drops would hit revenue and margins.