PHOEVOS Pouroulis must guide his company through the choppy waters of the over-supplied platinum group metals (PGM) and ailing chrome market – a task that brings to mind the tales of another daring Greek, the mythical Odysseus who overcame the hazards of scylla and charybdis. Back on land, Pouroulis’s Tharisa produces both minerals at an opencast mine near Rustenburg and is looking for an on-site railway siding to load 1.2 million tonnes of chrome ore a year. This would lower costs of trucking chrome ore to a facility 6km away. Tharisa is a low cost producer in which it uses proceeds from chrome to offset the cost of producing PGMs. At 118,000 oz of PGMs a year Tharisa is hardly likely to move the dial on global platinum supply, but it is a relatively important source of chrome concentrate for China, producing about 14% of total South African supply. Pouroulis has the steadying hand of his mining and entrepreneur father Loucas who serves as chairman. The company’s shares are tightly held, but with 46% of the company held by the Pouroulis family, there will be lots of focus in squeezing every drop out of costs so to turn the operation profitable and generate dividends.
LIFE OF PHOEVOS
Poroulis has a BSc in Business Administration from Boston University and has been CEO of Tharisa Plc since October 2010. He has been involved in the mining industry since 1997, serving in various capacities including management, advisory and operational roles. His businesses have included medical supplies, food and retail. He was a founding director of Keaton Energy and is closely involved with a number of family-owned companies
- Web Address: www.tharisa.com