South African mining concern, Tharisa says it is delaying its US$391 million injection into Karo mine in Zimbabwe until 2025 due to low platinum prices.
According to analysts, this is a further indication that weak commodity prices may hurt Zimbabwe’s ambitions to boost mine investment.
Tharisa recently announced that it is planning to invest $391m to develop the Karo platinum group metal (PGM) mine in Zimbabwe.
The company currently holds a 70% stake in Karo Mining Holdings, which owns the Karo PGM project on Zimbabwe’s Great Dyke.
Located around 100km south-west of the Harare, the Karo PGM project has an annual production capacity of 194,000oz.
The Karo mine development is expected to create around 1,000 jobs in its initial stages, as well as a further 1,000 when it starts production.
Source Zwnews
