• EXCURSION
KARO PLATINUM – A ONCE IN A LIFETIME PROJECT ( PART 2 )
Image by quinky | Freepik
Compiled by Sharyn Macnamara
Tharisa has taken its philosophy of challenging convention through innovation and maximising value to Zimbabwe in its world class , Tier1 Platinum Group Metals ( PGM ) development asset on the Great Dyke – the Karo Platinum Project – a large scale open pit , quick to market resource .
The Tharisa differentiator “ Making a decision to start with exploration and mine development takes time ,” said Phoevos Pouroulis , CEO of Tharisa , in a presentation to investors in October 2022 . 1 “ It requires strategic , long term investment philosophies , and therefore , capital needs to be patient and willing to explore new regions .” The average timeline to bring a mine to market is at least 12 to 16 years . “ If we meet our timelines to complete this project , we will have taken six years from first drill hole to first ore in mill – so , significantly shorter than the conventional ore exploration timeline .”
Pouroulis also noted at the PGM Industry Day hosted by Resources 4 Africa in April of 2022 that the company has been looking at greenfield opportunities in Zimbabwe for over a decade to build a mine . In 2018 the company was able to secure a special grant on a vital piece of virgin real estate and the Karo Platinum project was born . He added , “ With the disruption of COVID , developments were slightly delayed , but the delay allowed us to look at a measured , calculated approach to developing this world class asset .”
Tharisa plc owns 70 % of Karo Mining Holdings , with 30 % held by Leto Settlement . Karo Mining Holdings ’ fully owned subsidiary , Karo Zimbabwe Holdings , in turn , owns 85 % of Karo Platinum , the operating company , with 15 % held ( on a free carry basis ) by the government of Zimbabwe via Generation Minerals , its SPV .
A unique geological setting The Special Grant awarded to Karo Platinum is located in the Great Dyke in the Mashonaland West District , approximately 80km southwest of Harare and 35km southeast of Chegutu , south of the Zimplats Selous Metallurgical Plant and north of the Zimplats Ngezi operations .
The Great Dyke is a PGM bearing geological feature that runs from north to south in Zimbabwe . It is approximately 550km in length and up to 11km wide , second to the Bushveld Complex of South Africa in terms of its PGM resource base . It hosts the Main Sulphide Zone ( MSZ ), typically , between 2 and 3m thick . The project is situated in the southern portion of the middle chamber
Tharisa investor presentation – Karo Platinum , 12 October 2022
Historic timeline .
18 • African Mining • May 2023 www . africanmining . co . za