Tharisa Raises $300M for Zimbabwe Platinum Mine

Tharisa successfully priced a $300 million five-year senior secured Nordic bond at 11% coupon to advance its Karo platinum project in Zimbabwe, ZimGazette reported. The bond was issued at 98% of principal, raising nearly $300 million with a semi-annual coupon of 11.00% per annum, a structured financing deal for the project. The miner had previously secured mining licenses but faced delays due to power shortages and policy uncertainty, which had stalled progress and increased costs. This financing bet on Zimbabwe's platinum group metals despite ongoing regulatory and infrastructure risks, signaling investor confidence in the sector's long-term potential. The investment is a significant capital inflow with potential for job creation and export earnings, boosting the economy despite risks from policy instability and infrastructure gaps.