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Arxo Finance|Tharisa|Zimbabwe|Karo Platinum Project|Mining|Platinum|Phoevos Pouroulis
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arxo-finance|tharisa|zimbabwe|karo-platinum-project|mining|platinum|phoevos-pouroulis

Tharisa secures $300m bond to develop Zim platinum project

Tharisa CEO Phoevos Pouroulis

Tharisa CEO Phoevos Pouroulis

11th September 2026

By: Lumkile Nkomfe

Creamer Media Online Writer

     

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JSE-listed mining and metals company Tharisa has announced the successful pricing of a $300-million five-year secured bond, issued at 98% of principal and carrying a yearly coupon of 11%, for the Karo platinum project, in Zimbabwe.

The bonds have a five-year maturity, they will pay interest twice a year and be issued by wholly-owned Tharisa subsidiary, Arxo Finance.

Tharisa notes that the offering was oversubscribed and attracted strong demand from a broad base of global institutional investors across Europe, the UK, the Middle East, North America and Asia, thereby reflecting the support for the company’s management strategy and development of the Karo platinum project.

“This is a highly satisfactory outcome for Tharisa, enabling us to complete the Karo platinum project, more than double our platinum group metals output and add a second Tier 1 asset to our portfolio.

“The efficiency of the corporate bond market was evident, with more than 150 investors engaging with the Tharisa growth story and a broad group supporting the offering,” says Tharisa CEO Phoevos Pouroulis.

The settlement of the bonds is expected to occur on September 24 and the proceeds will be applied primarily to complete the construction and development of the Karo platinum project, where first ore to the mill is expected in the fourth quarter of the 2027 calendar year.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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