Karo Mining Holdings is confident that its platinum project in Mhondoro, Mashonaland West province, Zimbabwe, has the potential to become a world-class asset capable of producing up to 190,000 tonnes of PGMs annually.
The company’s Investor Relations and Communication Director, Ilja Graulich, has stated that the project, which utilizes open-pit mining, represents a cost-effective approach to developing the mine.
The Karo Platinum project is a joint venture between Karo Mining Holdings and Generation Minerals, a special-purpose vehicle owned by the Republic of Zimbabwe. Karo Mining Holdings owns 85% of the project, while Generation Minerals owns the remaining 15%. The project is located on the Great Dyke in Zimbabwe, and its initial lifespan is 17 years. However, less than 10% of the 23,903-hectare project area has been utilized to attain this lifespan.
Karo Platinum has made significant progress in the development of the project, securing mining and environmental permits and establishing a community trust fund to support local development initiatives. The project has a short construction period and is expected to deliver its first ore to the mill by July 2024.
In 2018, Karo Platinum was awarded a Special Grant in the Great Dyke in the Mashonaland West District for an area of 23,902.9 hectares. The company is committed to developing the project in a sustainable and socially responsible manner, ensuring that the local community benefits from the project’s success.