The Karo Platinum project, an opencast mine to be built in Zimbabwe, is expected to deliver its first ore to mill in July 2024.
“In July 2024, we will put the first ore in mill,” Karo Mining Holdings managing director Bernard Pryor was quoted as saying by Mining Weekly.
The earthworks contractor started clearing the site last week for earthworks terracing projected to commence in December.
The project, which is expected to produce 194 000 ounces per year, will have a mine life of 17 years.
Karo has to date spent $20 million out of the estimated $391 million total cost to first ore in mill.
South African chrome and PGMs miner Tharisa owns 70% of Karo Mining while the remaining 30% is held by Leto Settlement.
Karo Mining’s wholly owned subsidiary Karo Zimbabwe in turn owns 85% of Karo Platinum, the operating company, with 15% held by the government of Zimbabwe through Generation Minerals.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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