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Africa|Financial|Mining|Sustainable|Underground
Africa|Financial|Mining|Sustainable|Underground
africa|financial|mining|sustainable|underground

Tharisa signs new debt facilities with Absa, Standard Bank

12th November 2025

By: Sabrina Jardim

Senior Online Writer

     

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JSE-listed Tharisa has, subject to the fulfilment of certain conditions precedent, signed a $130-million debt facility with Absa Bank – acting through its Corporate & Investment Banking (CIB) division – as initial mandated lead arranger and co-mandated lead arranger, and the Standard Bank of South Africa – acting through its CIB division – as co-mandated lead arranger, as part of the company's ongoing debt capital programme.

The facility comprises a four-year term loan of $80-million – with an accordion of $20-million – and a revolving R900-million credit facility, with the funds to be used to prepay the balance of an existing term loan and revolving credit facility, as well as for general corporate and working capital purposes, including investing in the sustainability of the Tharisa mine, in the North West province.

"We are pleased to have successfully executed the debt facilities agreement, an important milestone in strengthening our capital structure and positioning the Tharisa mine for long-term sustainable growth as we transition to underground mining,” says Tharisa CFO Michael Jones.

He says the transaction reduces the company’s overall cost of capital, extends its debt maturities and enhances financial flexibility, allowing Tharisa to better navigate changing market conditions and continue investing in its strategic priorities.

Jones adds that the enhanced balance sheet reinforces Tharisa’s commitment to prudent financial management and value creation for shareholders.

“I want to thank our lending partners for walking this exciting journey with us and our advisers for their support throughout this process."

As at September 30, Tharisa had group cash on hand of $173-million and debt of $104.4-million, resulting in a net cash position of $68.6-million.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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