Key step in its development as an innovative group focused on critical metals, says miner
Chrome and platinum group metals miner Tharisa has raised a $130m debt facility from Société Générale and Absa Bank in a deal that it says will enable it to invest in assets and pursue growth objectives while maintaining a sustainable dividend policy.
“The Société Générale and Absa senior debt facilities, as well as the significant free cash flow generated from the Tharisa Mine, provide significant flexibility to Tharisa’s capital allocation policy,” Tharisa CFO Michael Jones said on Monday in a statement. The debt facility comprises a term loan of $80m and a revolving $50m facility, secured by commodity offtake agreements.
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