Mining and metals group Tharisa has established a Level 1 American Depositary Receipt (ADR) programme to enhance the accessibility of its securities to international investors.The ADR programme will enable US-based investors to gain exposure to Tharisa through dollar-denominated ADRs trading in the US over-the-counter market, the company said on Monday.JPMorgan was appointed the depositary bank.Each Tharisa ADR will represent 10 ordinary shares. The ordinary shares will continue to trade on the JSE and the London Stock Exchange.Tharisa says the ADR programme will increase the accessibility of its securities to international investors, with a particular focus on the US, where interest in critical and strategic minerals continues to grow. Tharisa’s core commodities — platinum group metals (PGMs) and chrome — are recognised as critical minerals in the US and other major economies and, as such, attract increasing attention from investors seeking exposure to the energy transition, clean air technologies and future-facing technologies including AI, it said.“The establishment of our ADR programme marks a meaningful step in broadening Tharisa’s global investor reach,” Tharisa CEO Phoevos Pouroulis said.“The US is an attractive jurisdiction, and we are seeing significant interest in critical and strategic minerals, the very commodities at the heart of our business. All of the commodities we mine fall into both categories, and this programme gives US investors a simple, accessible and familiar mechanism through which to access our equity story.“It is consistent with our strategy of enhancing optionality, improving liquidity and reaching the widest possible pool of institutional and retail investors who recognise the value of what we are building at Tharisa.”The group recently reported a nearly sixfold increase in profits for the six months ended March as PGM prices remained robust.Tharisa’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.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.The group enjoyed soaring PGM prices in the first half, with the average platinum spot price more than double where it was a year before.