Tharisa (THS ) has secured new trade finance facilities from its existing bankers. The facilities are 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 around 1.5 million tonnes of chrome concentrates in its financial year ended 30 September 2025, has negotiated improved unsecured, revolving trade finance facilities with HSBC and Absa.
HSBC will provide US$30 million in finance facilities and Absa Bank Limited US$15 million, with an accordion of US$15 million.
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. Tharisa has long been the beneficiary of chrome production at its South African operations.
"Securing these enhanced trade finance facilities strengthens our balance sheet resilience and optimises our working capital flows,” said Michael Jones, chief financial officer of Tharisa.
“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.
View from Vox
Good to see Tharisa increasing its flexibility to trade in a market it already knows well and has plenty of experience in. The banking relationships are long-standing, as is the cash flow from Tharisa’s South African operations. But the company now looks better positioned than ever.