Karo commences platinum exploration

KARO Mining Holdings has commenced exploration to delineate the platinum group metals (PGM) resource at its mining concession on Zimbabwe’s mineral rich Great Dyke. Located in Mhondoro-Ngezi mineral belt west of Harare where Zimplats — the country’s largest platinum company — has operations, the integrated US$4,2 billion project will also include a coal mine and a 300 megawatts (MW) solar plant.

On completion, it will be Zimbabwe’s largest integrated platinum mining and refinery operation.

“In the last quarter of 2018, Karo Platinum was awarded a development permit from the Ema (Environmental Management Agency),” said Karo in a statement on Wednesday.

“The development permit enabled Karo Platinum to initiate field work and the exploration drilling programme. The first drilling contractor has mobilised and has completed 72 diamond core boreholes totally over 12 000 metres. The drilling campaign is focused on the western edge of the Great Dyke on the mining location and the boreholes targeting average depths of 50 to 150m below surface.

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Gains were partially offset by losses in Old Mutual Limited which dropped $0,0089 to $9,1949, Delta eased $0,0070 to settle at $2,9042 and Bindura was $0,0014 down at $0,0842.