Karo Platinum project, Zimbabwe – update

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21st April 2023

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor


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Name of the Project
Karo platinum project.

The Great Dyke, in the Mashonaland West district of Zimbabwe.

Project Owner/s
Karo Platinum, which is jointly owned by the government of Zimbabwe and Karo Mining Holdings.

Tharisa is a 70% shareholder in Karo Mining, which, in turn, indirectly owns 85% of the Karo Platinum project, with the government of Zimbabwe holding the remaining 15% of the project on a free-carry basis.

Project Description
Karo Platinum is a proposed Tier 1 openpit, scalable, low-cost and -risk project, which will be developed in phases.

The project has initial probable reserves of 35.5-million tonnes at 2.31 g/t and 2.5-million ounces of platinum, palladium, rhodium and gold.

The operation will have a throughput of 205 000 t a month, producing 194 000 oz/y over a 17-year life-of-mine.

The integrated mining and refining complex includes the establishment of a 300 MW solar photovoltaic (PV) power plant, which will feed power into the Zimbabwe electricity grid.

Potential Job Creation
The project will create about 1 000 direct jobs during construction and another 7 000 indirect jobs.

Net Present Value/Internal Rate of Return
The project has a net present value, at a 10% discount rate (excluding in situ inferred resources) of $413-million and an internal rate of return of 26.1%.

Capital Expenditure
Total capital expenditure for Phase 1 is estimated at $391-million.

Planned Start /End Date
First ore in the mill is planned for July 2024.

Latest Developments
Tharisa has reported that the project is progressing on track and within budget, with ground clearance and civil contractors having begun work on site.

First ore will be delivered to the mill in the second half of 2024.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Karo Mining Holdings, email

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Edited by Creamer Media Reporter



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