REG - Tharisa PLC - Trade finance facilities with HSBC and Absa Bank

TharisaAnnouncement

Tue 07:00

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RNS Number : 7447X  Tharisa PLC  24 March 2026

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 'Group')

 

Tharisa ENHANCES TRADE FINANCE FACILITIES WITH the HONGKONG AND sHANGHAI
BANKING CORPORATION LIMITED AND ABSA BANK LIMITED

Tharisa, the mining, metals, and innovation company dual-listed on the
Johannesburg and London stock exchanges, is pleased to announce that it has
secured new trade finance facilities, from its existing bankers, designed to
provide greater flexibility, improve working capital efficiency, and enhance
the Group's global trading capabilities.

Arxo Resources Limited, the wholly owned trading subsidiary of Tharisa, which
traded circa 1.5 Mt of chrome concentrates in its financial year ended
30 September 2025, has negotiated improved unsecured, revolving trade finance
facilities, with The Hongkong and Shanghai Banking Corporation Limited (HSBC)
providing US$30m and Absa Bank Limited (acting through its Corporate &
Investment Banking division) providing US$15m with an accordion of US$15m.
These facilities provide for both pre- and post-shipment finance. The
facilities replace existing, more onerous and traditional trade finance
facilities. Tharisa's trade facilities are used to optimise trade finance cash
flows and position the Company to take advantage of trading opportunities that
arise, with a focus on the chrome market.

Michael Jones, CFO of Tharisa, commented: "Securing these enhanced trade
finance facilities strengthens our balance sheet resilience and optimises our
working capital flows. The additional flexibility allows us to unlock further
value in our global marketing and sales activities while supporting our
disciplined growth strategy."

The new arrangements are complementary to Tharisa's existing banking
relationships and are aligned with the Group's capital allocation priorities,
including maintaining a robust liquidity position, supporting the ramp-up of
growth initiatives, and continuing to deliver shareholder returns.

 

Paphos, Cyprus

24 March 2026

 

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

igraulich@tharisa.com (mailto:igraulich@tharisa.com)

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 - delivering on expansion and growth opportunities,
commercialising technology solutions

Tharisa is an integrated resource group playing a pivotal role in the global
energy transition and the decarbonisation of economies. Leveraging innovation
and technology, Tharisa covers the entire value chain - exploration, mining,
processing, beneficiation, marketing, sales, and logistics - for PGMs and
chrome concentrates. The low cost, multigenerational Tharisa Mine is located
on the southwestern limb of the Bushveld Complex, South Africa, the largest
source of PGMs and chrome globally. Development of the Karo Platinum Project,
a tier-one PGM project on Zimbabwe's Great Dyke, further reinforces Tharisa's
growth strategy. Investments in downstream beneficiation, including proven
chrome and PGM alloy production, will add significant value when
commercialised. Tharisa is committed to reducing carbon emissions by 30% by
2030 and the sustainability roadmap targets net carbon neutrality by 2050.
Through Redox One, Tharisa is advancing proprietary iron-chromium redox flow
battery technology, utilising the very commodities it mines to support
long-duration energy storage - a key component in the transition to renewable
energy.

Tharisa plc is listed on the Johannesburg Stock Exchange (JSE: THA) and the
London Stock Exchange (LSE: THS, Equity Shares (Transition) Category).

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