Online Reporter
Nelson Gahadza
Senior Business Reporter
INTEGRATED mining group Tharisa plc says investment into its flagship Zimbabwean platinum project, Karo Platinum, has risen to US$241 million, as mine development gathers momentum ahead of first production next year.
Chief executive Mr Phoevos Pouroulis, in a statement accompanying the group’s interim results presentation for the six months ended March 31, 2026, highlighted significant progress on mine development, infrastructure and funding arrangements for the platinum group metals (PGM) project located on Zimbabwe’s Great Dyke.
“Mobilisation at Karo is on track, with open-pit waste stripping already underway as the company advances the next generation PGM growth asset.
“Continued disciplined investment in the Karo Platinum Project remained one of the group’s strategic priorities during the reporting period,” Mr Pouroulis said.
According to the presentation, Tharisa invested US$21,4 million into Karo during the first half of the financial year as part of ongoing efforts to de-risk the project and maintain construction momentum.
The group also revealed that capital commitments linked to the project stood at US$27,7 million as at March 2026, forming part of total group capital commitments of US$120,2 million.
Tharisa said the Karo project had now reached several major development milestones, including the completion of mine design and metallurgical test work on both base and precious metals reefs.
Mr Pouroulis said earthworks have also been completed, while civil works were reported to be 80 percent complete.
He added that bulk water and electricity supply had already been secured, while mining contractor EPSA had been appointed and mobilised to the site.
