Karo Platinum secures 25-year mining deal in Zimbabwe

THARISA’S Karo Platinum project in Zimbabwe has secured a 25-year Special Mining Lease Agreement with the Government of Zimbabwe.This, the company says, provides the tenure and fiscal certainty needed to advance the project towards first production.The agreement was signed in Harare on Monday, 24 August 2026, with President Emmerson Mnangagwa attending the ceremony.The parties have agreed to the fiscal terms, with the lease covering Karo’s 23 903 ha mining area on Zimbabwe’s Great Dyke.The agreement removes a key area of uncertainty for the project and establishes the fiscal and operational framework applicable to the large-scale development.Tharisa has invested more than $240m in Karo to date.Karo is one of the largest undeveloped platinum group metals projects on the Great Dyke. It has an open-pit mineral reserve of 2.1 million ounces and an open-pit mineral resource of 11.2Moz on a 4E basis.Potential underground mining could extend the operation to a mine life exceeding 50 years.Phase 1 is designed to produce 226 000 oz of PGMs annually once ramped up.Karo Platinum is 85% owned by Karo Mining Holdings, in which Tharisa holds a controlling interest. The Zimbabwean government owns the remaining 15% through Generation Minerals on an unencumbered free-carry basis.Tharisa CEO Phoevos Pouroulis says the lease provides the framework for Karo to move towards production following construction work that began in December 2022 and pilot mining that started in June 2023.The post Karo Platinum secures 25-year mining deal in Zimbabwe appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com