Overview
The Mining Lease area for the Karo Project covers an area of 23 903 ha and is located within the Great Dyke in the Mashonaland West District of Zimbabwe, approximately 80 km southwest of Harare and 35 km southeast of Chegutu.
The project, situated within a designated special economic zone ('SEZ'), is in the southern portion of the middle chamber of the Great Dyke and is supported by good infrastructure, including tarred road and power access in the project area.
The Great Dyke is a PGM-bearing geological feature that runs north to south. At approximately 550 km in length and up to 11 km wide, it is second to the Bushveld Complex of South Africa in terms of its PGM resource base.
On 31 March 2022, Tharisa plc exercised its farm-in option and acquired a controlling interest in Karo Mining. Tharisa currently holds a 70% stake of Karo Mining with Leto Settlements holding the balance.
The Great Dyke in the Mashonaland West District of Zimbabwe, approximately 80 km southwest of Harare and 35 km southeast of Chegutu.
On 31 March 2022, Tharisa plc exercised its farm-in option and acquired a controlling interest in Karo Mining.
The increased shareholding in the Karo Platinum Project is in line with Tharisa's growth strategy and is a natural evolution for Tharisa as it fulfils its strategy of becoming an integrated diversified developer.
The Republic of Zimbabwe is a partner in the project and has a 15% stake on a free carry basis at the Karo Platinum level, held via Generation Minerals.
The increased shareholding in the Karo Platinum Project is in line with Tharisa's growth strategy and is a natural evolution for Tharisa as it fulfils its strategy of becoming an integrated diversified developer.
The Republic of Zimbabwe is a partner in the project and has a 15% stake on a free carry basis at the Karo Platinum level, held via Generation Minerals.
The Republic of Zimbabwe is a partner in the project and has a 15% stake on a free carry basis at the Karo Platinum level, held via Generation Minerals.
The increased shareholding in the Karo Platinum Project is in line with Tharisa's growth strategy and is a natural evolution for Tharisa as it fulfils its strategy of becoming an integrated diversified developer of new metal assets.
It also meets the Company's strict capital allocation policy, ensuring all three aspects of capital are met, namely continuous investment, growth capital and shareholder returns, while the Karo Platinum Project meets all of the strategic investment criteria for Tharisa, being open pit, quick to market, providing returns in line with Tharisa's stated strategy while providing diversification for the Group.
Karo Platinum
Group structure
*Generation Minerals is the Republic of Zimbabwe SPV and is free carried interest