https://www.miningweekly.com
Cementation Africa|Nedbank|Tharisa|South Africa|Tharisa Mine|Chrome|Mining|Platinum Group Metals|Bushveld Complex|Michael Jones
|||||
cementation-africa|nedbank|tharisa|south-africa|tharisa-mine|chrome|mining|platinum-group-metals|bushveld-complex|michael-jones

Tharisa secures new R750m asset revolving finance facility from Nedbank

The first blast at the Tharisa mine

Photo by Creamer Media's Shadwyn Dickinson

25th June 2026

By: Creamer Media Reporter

     

Font size: - +

Johannesburg- and London-listed mining, metals and innovation company Tharisa has secured a new R750-million (about $45.5-million) asset revolving finance facility from financial services provider Nedbank, acting through its Nedbank Corporate and Investment Banking division.

The facility, which incorporates an accordion enabling Tharisa to increase the facility to R1.25-billion (about $75.8-million), ensures that Tharisa's underground fleet, comprising the specialised equipment necessary to support safe, efficient and high-capacity underground extraction, is fully funded.

Cementation Africa has been engaged as mining contractor.

Tharisa in March initiated the first underground blast on the Apollo portal at its Tharisa chrome and platinum group metal mine, on the western limb of the Bushveld Complex in South Africa, 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, the company says.

Tharisa points out that the new asset revolving finance facility is in addition to the about $56.2-million asset finance facilities currently available to Tharisa for funding its openpit mining fleet.

"This facility with Nedbank is a testament to the strength of Tharisa's balance sheet, our operational record and the confidence our financial partners place in the long-term value of this business. Securing full funding for our underground fleet is a critical enabler of our transition strategy, and we look forward to progressing this next chapter of Tharisa's growth with the certainty and conviction our shareholders expect," comments Tharisa CEO Michael Jones.

The fleet selection process incorporates equipment with improved energy efficiency, lower emissions profiles and enhanced safety systems. This supports Tharisa's sustainability commitments, including its roadmap to carbon neutrality by 2050.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 
Egoli Gas (Pty) Ltd
Egoli Gas (Pty) Ltd

As a reticulator, Egoli Gas provides natural gas to homes and businesses via underground pipes.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.066 0.09s - 124pq - 2rq
Subscribe Now