The Tharisa open pit mine produces PGM and chromite concentrate. It is transitioning to underground mining.
Tharisa, the mining, metals, and innovation company dual-listed on the Johannesburg and London stock exchanges, said Thursday it has secured a new R750 million asset revolving finance facility from Nedbank as its underground mining begins to ramp up.
The facility has a built-in option facility, termed an accordion, that enables Tharisa to increase the amount to R1.25 billion. The facility ensures that Tharisa's underground fleet, comprising the specialised equipment necessary to support safe, efficient, and high-capacity underground extraction, is fully funded, a statement from the mining company said Thursday.
"This facility with Nedbank is a testament to the strength of Tharisa's balance sheet, our operational track record, and the confidence our financial partners place in the long-term value of this business,” said Tharisa chief financial officer Michael Jones in a statement.
Cementation Africa has been engaged as the mining contractor. On March 31, 2026, Tharisa initiated the first underground blast on the Apollo portal, marking the official start of the underground development.
