The
Karo platinum project is
a
joint
venture
between
Karo Mining Holdings
(85%)
and Generation Minerals
(15%),
a
special-purpose
vehicle
of
the
Republic
of
Zimbabwe,
held
on
a
free-carry
basis.
In
turn,
Tharisa
is
a
77%
shareholder
in
Karo Mining Holdings
and
acts
as
anchor
capital
provider
for
the project.
The
Karo platinum project is
one
of
only
two
major
PGM projects currently
under construction globally
and
is
positioning
Karo Mining Holdings
at
the
forefront
of
the
PGM
industry,
says
Tharisa.
The project is
a
Tier
1
PGM
asset
designed
for
responsible,
low-cost
and
long-term
production
of
strategic
commodities
required
to
deliver
a sustainable future.
With
an
initial
17-year
mine
life,
it
is
laying
the
groundwork
for
economic
growth
and sustainable development
that
benefits
all
stakeholders.
“We
believe
progress
must
be
achieved
by
balancing
economic
growth
with
responsibility
toward
our
planet
and
our
communities,”
adds
Tharisa.
The project is
strategically
located
on
Zimbabwe’s
Great
Dyke
–
an
immense
layered
igneous
intrusion
that
is
not
merely
a
geological
marvel;
it
is
a
globally
significant
PGM- bearing structure,
second
only
to
South Africa’s
renowned
Bushveld
Complex.
Karo
is
positioned
across
the
eastern
and
western
flanks
of
the
Great
Dyke,
above
the
Main
Sulphide
Zone,
the
primary
host
for
PGMs.
Guided
by
detailed
geological
insights,
the project will
aim
to
responsibly
and
efficiently
tap
into
this
vast
mineral
potential,
states
Tharisa.
The
Karo project will
combine
a
ten-year
openpit
phase
with
a
longer
30-year underground phase.
Returns
may
be
further
enhanced
if
current
studies
to
use
the
base
metal
reef,
rich
in copper,
nickel
and
cobalt,
prove
successful.
With
major
derisking
completed,
and
about
$150-million
spent
on
the project since
inception, construction of
the
Karo project in
Zimbabwe
is
firmly
under
way,
although
aspects
of
the project were
decelerated
owing
to
the
low
PGM
price environment.
All
the
earthworks
have
been
completed,
with
about
80%
of
the civils finalised.
The project also
recently
took
delivery
of
its
mills,
which
have
been
installed
on
site.
Work
on
securing
more water sustainability
is
advancing,
and
the
development
of
the
Chirundazi
dam
is
ongoing.
Electricity
installations
also
continue,
with
the project’s power supply
coming
from
the
Selous
substation.
Once
operational,
the project is
expected
to
add
about
200 000 oz/y
of
PGMs,
doubling
Tharisa’s
current
output
from
its
Tharisa
mine
on
the
western
limb
of
the
Bushveld
Complex.
Importantly,
Phase
1
of
the
Karo project only
deals
with
about
10%
of
the
resource
endowment
–
a
96-million-ounce
resource
with
reserves
just
over
11-million
ounces,
mirroring
Tharisa’s
existing
Tharisa
mine
in
that
it
has
multi-generational
output
opportunity.
Karo’s
philosophy
is
rooted
in
a
deep
commitment
to sustainable and
responsible operations,
believing
that
true
value
creation
extends
beyond
economic
returns
to
encompass
profound
positive
impacts
on
surrounding
communities
and
the environment.
Sustainability
is
not
merely
a
policy;
it
is
an
integral
part
of
Karo’s business model,
driving
every
decision
and
action,
achieving
long-term
success
for
all
stakeholders,
fostering
a
legacy
of
responsible
resource
development,
concludes
Tharisa.
Source:
Unleashing
Zimbabwe’s
mineral
wealth
for
a
sustainable
future
Post
published
in:
Business