[SMM Chromium Flash] Tharisa’s Average Chrome Price Slips to $285/t in Q4 as FY2027 Guidance Holds at 1.50-1.65 Mt

Chile’s National Geology and Mining Service ordered a temporary halt on October 13 at El Teniente’s North Crater waste dump and other areas exposed to avalanche or ground-movement risks, while stating that the order does not suspend the entire division. Amerigo Resources separately said its Minera Valle Central tailings operation was unaffected. El Teniente produced 1,483.1 metric tonnes of contained molybdenum in the first half of 2026, down 34.9% from a year earlier. No disruption to underground mining, concentrators or the molybdenum recovery circuit has been confirmed; SMM is not revising its forecast.

Tharisa produced 416,700 mt of chrome concentrate in the fourth quarter of its 2026 financial year (July-September), up 5.8% quarter-on-quarter from 393,800 mt in the third quarter. The quarter’s output comprised 371,300 mt of metallurgical grade and 45,400 mt of specialty grades. Full-year FY2026 production came to 1,563,800 mt, marginally above the 1,558,200 mt produced in FY2025 and in line with the company’s guidance. Higher throughput supported the quarterly gain. At the Tharisa Mine in South Africa, reef mined increased 8.5% quarter-on-quarter to 1.34 million mt, while reef milled rose 7.3% to 1.43 million mt. The company’s PGM output rose alongside chrome, with quarterly production of 41,000 oz on a 6E basis, bringing the FY2026 total to 153,700 oz. Tharisa CEO Phoevos Pouroulis said the group met its market guidance for both commodities in FY2026, describing it as the year the company’s growth moved from planning into construction.

Centinela's two unions resumed voluntary mediation on October 13 and quantified the strike's operational impact. They said conventional haul trucks in service fell to 25 from 67, while 17 autonomous trucks were running compared with 21 normally. The unions represent more than half of critical equipment operators and over 60% of maintenance staff, warning impacts could intensify in November. Antofagasta Minerals earlier said the strike involved 709 workers, or 22% of direct employees, and kept its production outlook unchanged. Centinela's 2026 molybdenum guidance remains 3,000–3,500 tonnes of contained metal. No company statement has confirmed a molybdenum circuit shutdown or quantified lost molybdenum output, so SMM is not revising its supply forecast.