Andrew
Tanyaradzwa Rusike
More than 100 locals have been employed by the new platinum venture that is being spearheaded by Karo Resources in Mhondoro-Ngezi, raising prospects of further economic spin-offs when the mine becomes operational.
Johannesburg Stock Exchange (JSE)-listed platinum group metals (PGM) producer Tharisa recently increased its stake in Karo to 66,3 percent. To date, it has invested more than US$60 million into the project, whose scope includes platinum, chrome and coal mining, construction of a power plant as well setting up of a smelter and refinery for beneficiation of PGMs.
Tharisa chief executive officer Mr Phoevos Pouroulis told The Sunday Mail that they have submitted an Environmental and Social Impact Assessment (ESIA) to authorities for the project to commence.
Initially, production at the mine was expected to begin in 2023.
According to Mr Pourolis, they are still within agreed timelines. Discussions to secure funding from financiers are underway.
Online Reporter