Tharisa plc
(Incorporated in the Republic of Cyprus with limited liability)
(Registration number HE223412)
JSE share code: THA
LSE share code: THS
A2X share code: THA
ISIN: CY0103562118
LEI: 213800WW4YWMVVZIJM90
('Tharisa' or the 'Company' or the 'Group')
THARISA SIGNS NEW DEBT FACILITIES WITH ABSA BANK LIMITED AND THE STANDARD BANK OF SOUTH AFRICA LIMITED
Tharisa, the mining, metals, and innovation company dual-listed on the Johannesburg and London stock exchanges, is pleased to announce it has, subject to the fulfilment of certain conditions precedent, signed a US$130 million debt facility (the 'Facility') with Absa Bank Limited (acting through its Corporate & Investment Banking division), as initial mandated lead arranger and co-mandated lead arranger, and the Standard Bank of South Africa Limited (acting through its Corporate & Investment Banking 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 US$80 million (with an accordion of
US$20 million) and a revolving ZAR900 million (c.US$50 million) credit facility, with the application of funds being applied in prepaying the balance of the existing term loan and revolving credit facility, general corporate and working capital purposes including investing in the sustainability of the Tharisa Mine.
Michael Jones, CFO of Tharisa, commented:
"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. This transaction reduces our overall cost of capital, extends our debt maturities, and enhances financial flexibility-allowing us to better navigate changing market conditions and continue investing in our strategic priorities.
The enhanced balance sheet reinforces our 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 advisors for their support throughout this process."
Cash Balance and Debt Position as at 30 September 2025
Group cash on hand of US$173.0 million (30 June 2025: US$164.6 million), and debt of US$104.4 million (30 June 2025: US$121.5 million), resulting in a net cash position of US$68.6 million (30 June 2025: US$43.1 million).
Paphos, Cyprus
12 November 2025
JSE Sponsor
Investec Bank Limited
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Investor Relations Contacts:
Ilja Graulich (Head of Investor Relations and Communications)
+27 11 996 3500
+27 83 604 0820
Broker Contacts:
Peel Hunt LLP (UK Joint Broker)
Ross Allister / Georgia Langoulant
+44 207 418 8900
BMO Capital Markets Limited (UK Joint Broker)
Thomas Rider / Nick Macann
+44 207 236 1010
Berenberg (UK Joint Broker)
Matthew Armitt / Jennifer Lee / Detlir Elezi
+44 203 207 7800
About Tharisa
Tharisa is an integrated resource group critical to the energy transition and decarbonisation of economies. It incorporates exploration, mining, processing and the beneficiation, marketing, sales, and logistics of PGMs and chrome concentrates, using innovation and technology as enablers. Its principal operating asset is the multi-generational Tharisa Mine, located in the south-western limb of the Bushveld Complex, South Africa. Tharisa is also developing the Karo Platinum Project, a tier-one PGM asset located on the Great Dyke in Zimbabwe, while simultaneously focusing on beneficiation in the form of chrome and PGM alloys. A 15-year Power Purchase Agreement for the procurement of wheeled renewable energy and a 40 MW solar project will ensure that Tharisa Minerals' drive to reduce its carbon footprint by 30% by 2030 is well within reach, forming a major part of a roadmap to become net carbon neutral by 2050. Redox One is accelerating the development of a proprietary iron chromium redox flow long-duration battery utilising the commodities we mine. Tharisa plc is listed on the Johannesburg Stock Exchange (JSE: THA) and has an Equity Shares (Transition) Category listing on the London Stock Exchange (LSE: THS).