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Fri 11 Sep 2026
Close: 2 700c 
Day's move: -43c (-1.57%)
Volume: 32 416
Trades: 31
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Tharisa - USD300m Nordic bond priced
Tharisa successfully issued a USD300 million five-year senior secured bond at 98% of principal, with an 11.00% semi-annual coupon. The oversubscribed offering attracted global institutional investors, supporting Tharisa’s strategy and the Karo Platinum Project in Zimbabwe. Settlement is expected on 24 September 2026, with proceeds primarily funding the project's development, expected to deliver first ore in Q4 2027. The bonds will be listed on the ABM Fast Entry and Euronext Oslo within 12 months. Tharisa aims to double its PGM output and add a Tier 1 asset, with ongoing focus on resource expansion and project completion.
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Tharisa - income investor meetings and bond issue
Tharisa has mandated DNB Carnegie and HSBC as Joint Bookrunners, and Absa Bank Ltd. (acting through its Corporate & Investment Banking division) as co-manager, to arrange a series of fixed income investor meetings commencing on 2 September 2026.
A new 5-year senior secured bond with an initial issue amount of USD300 million issued by the Company’s wholly owned subsidiary Arxo Finance plc may follow, subject to inter alia market conditions. The net proceeds from the contemplated bond issue will be deployed for capital expenditure at the Karo Platinum Mine, and for general corporate purposes.
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Tharisa - purchase agreement with Valterra
Tharisa secured a five-year concentrate purchase agreement with a subsidiary of Valterra Platinum Ltd. for the Karo Platinum Project on Zimbabwe’s Great Dyke. The project, owned 85% by Karo Mining Holdings plc and supported by a Special Mining Lease Agreement with the Zimbabwean government, boasts a Mineral Reserve of 2.1 million ounces of platinum group metals (PGMs) and a Mineral Resource of 11.2 million ounces, supporting a mine life exceeding 50 years. Tharisa owns 78.81% of Karo Mining Holdings. The agreement provides offtake certainty, bolstering the project's bankability as it advances towards first production. Valterra’s CEO expressed confidence in the project and the partnership. The deal marks a significant milestone in Tharisa’s growth and development strategy.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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