Karo Mining Holdings plans to process 2.5 metric tonnes of platinum ore annually at its Mhondoro-Ngezi plant following open pit pilot mining and the successful completition of the refine metallurgical processing procedures.
The company started bulk earthworks construction in December 2022, and the first concrete was poured in June 2023. Actual mining is anticipated to start soon.
Additionally, it follows Karo’s successful listing of a structured debt instrument denominated in US dollars on the Victoria Falls Stock Exchange in order to raise US$36.8m for Phase 1 of the Karo Platinum Project.
“.…Karo will process approximately 2.5 metric tonnes per year of ore and produce 190koz/pa of PGM(6E basis),” Karo said in its third quarter trading update to June 30 2023.
The project is being developed on the Great Dyke in Mhondoro-Ngezi, Mashonaland West Province.
Karo employed 540 people on site during the period under review, of which 99 are Karo employees with the balance being contractor employees.
Most of these employees are drawn from the local community.
Karo said the project had attained 536 363 lost time injury and fatality-free hours.
Karo Mining Holdings plc (“KMH”), is a company incorporated in the Republic of Cyprus and a subsidiary of Tharisa plc, a Johannesburg and London listed company. – (Business Times)