KARO Mining Holdings

Karo Mining Holdings’ project in Zimbabwe will establish a large scale vertically integrated Platinum Group Metals (PGMs) mining complex, located in the Great Dyke in Zimbabwe. Karo will design and construct fully integrated facilities to ensure the maximum extraction of value from mining, through the value chain to final Base Metal and Precious Metal refining. The project is based on proven technologies and industry best practices.

Karo Mining Holdings will execute the project in partnership with the Government of Zimbabwe, under the Investment Project Framework Agreement that was signed between the parties on 22 March 2018.

Project Background

Karo Mining Holdings (KMH) has been scouting for platinum mining and refining opportunities in Zimbabwe since 2009. In January 2014, the Government of Zimbabwe issued an expression of interest for companies to further develop PGM opportunities, to which Karo submitted an expression of interest.

KMH acquired its project concession area, measuring 23 903 ha, in March 2018 and entered into the Investment Framework Agreement with the Republic of Zimbabwe.

The project is located in the Mashonaland West province of Zimbabwe, approximately 80 km southwest of Harare and 35 km southeast of Chegutu. The country is well connected by road and rail infrastructure, with several border crossings from this land locked country.

A Mining Lease application was submitted to the Mining Affairs Board, where the tenure of the Mining Lease under the legislation is for the life of the mine. The Mining Lease was issued on 12 March 2021 and provides security of tenure.