25th Jun 2026 06:51
Tharisa PLC - Cyprus-headquartered platinum miner - Secures a new ZAR750.0 million, about USD45.5 million, asset-based revolving finance facility from Nedbank Ltd to help the platinum producer transition to underground mining. Tharisa has the option to increase the facility to ZAR1.25 billion, or USD75.8 million. The new facility ensures that Tharisa's underground fleet is fully funded, it says.
Late in March, Tharisa initiated the first underground blast on the Apollo portal, marking the official start of the underground development. Ramp up is progressing as planned, with first ore in mill expected early in the second half of the current calendar year, Tharisa says.
Tharisa last year concluded an USD130.0 million debt facility with Absa Bank Ltd, a division of Absa Group Ltd, and Standard Bank of South Africa Ltd, a unit of Standard Bank Group Ltd, to fund the capital works programme for the underground mine transition. In March, it negotiated improved unsecured, revolving trade finance facilities, with HSBC Holdings PLC subsidiary HSBC Ltd providing USD30.0 million and Absa Bank offering USD15.0 million.
Stock price in Johannesburg: ZAR24.46
12-month change: up 22%
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12-month change: up 41%
By Artwell Dlamini, Alliance News senior reporter South Africa
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