Karo Platinum is set to begin trial mining at its new platinum project in Zimbabwe to test the resource.
Tharisa, the parent company of Karo, said ground clearance and civil contractors had started work on site.
It said trial mining will begin with 30 000 tonnes of ore to “provide further information on drilling, blasting, grade control and processing”.
Karo Platinum awarded civil contracts for the pouring of the foundations for all plants and infrastructure and for a 31-kilometre-high voltage power line as well as transformers.
Karo Platinum raised $31.8 million late last year through bonds on the Victoria Falls Stock Exchange.
It also raised $5 million last week, bringing the total to $36.8 million.
Karo Platinum expects the first production at the mine to start in 2024.
Karo Platinum is expected to produce up to 194,000 ounces of PGMs per year, making Tharisa a 400,000 oz/year PGM producer.
Tharisa is a 70% shareholder in Karo Mining, a company incorporated in Cyprus, which in turn indirectly owns 85% of the Karo project, with the Zimbabwean government holding the remaining 15% on a free carry basis.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
Tharisa, the parent company of Karo, said ground clearance and civil contractors had started work on site.
It said trial mining will begin with 30 000 tonnes of ore to “provide further information on drilling, blasting, grade control and processing”.
Karo Platinum awarded civil contracts for the pouring of the foundations for all plants and infrastructure and for a 31-kilometre-high voltage power line as well as transformers.
Karo Platinum raised $31.8 million late last year through bonds on the Victoria Falls Stock Exchange.
It also raised $5 million last week, bringing the total to $36.8 million.
Karo Platinum expects the first production at the mine to start in 2024.
Karo Platinum is expected to produce up to 194,000 ounces of PGMs per year, making Tharisa a 400,000 oz/year PGM producer.
Tharisa is a 70% shareholder in Karo Mining, a company incorporated in Cyprus, which in turn indirectly owns 85% of the Karo project, with the Zimbabwean government holding the remaining 15% on a free carry basis.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
