Chrome and platinum group metal (PGM) miner Tharisa has reported a nearly sixfold increase in profits for the six months to end-March as PGM prices remained robust.The group’s profit after tax for the six months to end-March rose 468.3% to $46.6m and earnings before interest, tax, depreciation and amortisation (ebitda) were 138.1% higher at $104.3m, it said on Thursday.Revenue rose 28% to $359.4m thanks to an 85.3% jump in the average PGM basket price and an increase of 17.4% in PGM ounces sold.HEPS rose to 16.6c from 2.9c before, and an interim dividend of 2.5c per share was declared.The group said PGM pricing was underpinned by ongoing investments in clean air technologies, expanding applications in hydrogen energy and increased investor interest in critical metals for the energy transition and AI-driven technologies and data storage. The group enjoyed soaring PGM prices in the first half, with the average platinum spot price more than double where it was a year prior.The group produced 73,100oz of PGMs at an average basket price of $2,599/oz, and 753,300 tonnes of chrome at an average metallurgical grade chrome price of $284/tonne.The group said the co-product business model had again proven its resilience in the period, with strong commodity prices for PGMs and chrome supporting its ambitious capital projects as it transitions to underground mining at the Tharisa Mine in North West and continues its disciplined investment in the Karo Platinum Project in Zimbabwe.CEO Phoevos Pouroulis said Tharisa delivered robust operational and strategic progress during the period under review, underpinned by the resilience of global commodity markets.“Our focused investment in underground development at the Tharisa Mine reflects our dedication to maximising resource longevity and responsible value creation. The advancement of the Karo Platinum Project in Zimbabwe is another milestone, reinforcing our diversified growth strategy and disciplined delivery on project development,” he said.He said the group continues to make substantial gains in beneficiation, extracting greater value from each tonne processed and consistently providing high-value PGMs and chrome concentrates to global markets. “These critical and strategic minerals are integral to driving the global energy transition: PGMs enable emissions reduction technologies [and] hydrogen applications, and play a key role in the AI eco-system, while chrome is fundamental to stainless steel with expanding applications including renewable infrastructure,” he said.Pouroulis said if the spike in the oil price caused by the war in the Middle East is prolonged, it will negatively affect inflation, the cost of borrowings and global economic growth. These factors will in turn put pressures on input costs, influencing investment flows and shaping corporate strategies worldwide. “Commodity prices have, however, remained resilient notwithstanding the geopolitical tensions and ongoing supply chain adjustments, supported by strong demand fundamentals as industries continue to prioritise energy transition, decarbonisation, and infrastructure investment,” he said.