Row rect Shape Decorative svg added to bottom Strengthening sustainable mining success Absa | Corporate and Investment Banking > Insights and Events > Strengthening sustainable mining success SHARE Absa Corporate and Investment Banking has supported Tharisa Minerals (Pty) Ltd in advancing its next phase of growth through a multi-currency Platinum Group Metals (PGM) offtake-based Prepayment Facility. The financing comprises an $80 million term loan facility and a R900 million revolving credit facility, supporting the continued operation and long-term sustainability of Tharisa Mine. The transaction reflects Absa CIB’s expertise in structuring complex, multi-currency financing solutions that create meaningful impact across Africa’s mining sector. Our role as Initial Mandated Lead Arranger, Co-MLA, Co-Hedge Provider, Account Bank and Facility Agent highlights both our deep sector knowledge and our 13-year partnership with Tharisa, founded on trust, collaboration and a shared commitment to sustainable mining practices. This facility provides flexible, long-term funding that supports the mine’s operational requirements, refinances existing debt, and enables Tharisa’s strategic transition from open-cast to underground mining. The transition will extend the mine’s operational life by more than 40 years, ensuring a continued source of PGM supply while strengthening South Africa’s critical minerals value chain. Beyond supporting Tharisa’s business objectives, the transaction will create lasting socio-economic benefits for surrounding communities through job creation, enterprise development and skills training. By working closely with Tharisa to understand its long-term ambitions, including expansion across Africa, we continue to demonstrate our commitment to partnering with clients to deliver innovative and sustainable financial solutions that drive growth and resilience across the mining sector. For more information contact: Thulani Shange Tawanda Madondo https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Enabling mining development to support South Africa’s economic growth Absa CIB acts as joint mandated lead arranger, hedge provider, account bank and facility agent for West Wits Mining’s Qala Shallows Gold Project Read more DEALS Backing bold growth in Ghana Across Ghana’s manufacturing and consumer goods landscape, the need to scale efficiently, strengthen local production and remain competitive continues to grow. Read more DEALS Powering South Africa’s energy transition through scalable infrastructure solutions Absa Corporate and Investment Banking partnered with Mulilo Energy Holdings on the financing of the 77MW / 308MWh Hartebeesfontein Battery Energy Storage System (BESS) project, acting as Joint Mandated Lead Arranger, Senior Lender, Hedge Provider and Agent Bank. Read more
