Browsing: Great Dyke

Tharisa backed Karo Resources enters Great Dyke Platinum region of Zimbabwe
  • Tharisa PLC will be the latest foreign platinum mining firm to enter and invest in the Great Dyke in Zimbabwe.
  • The Great Dyke has the second-largest platinum reserves in the world after South Africa.
  • Tharisa has entered the Zimbabwean platinum mining sector through Karo Mining Holdings which owns the Karo Platinum Project.
  • Tharisa will get into an 85%-15% joint venture with the government of Zimbabwe.
  • The Karo Platinum project is expected to come on stream in 2 years and produce at least 150,000 ounces of the precious metal a year.

Tharisa PLC which is listed on the JSE took control of Karo Mining Holdings when it increased its interest in March from 28% to 85%. The company is building a mine which it has named the Karo Platinum Project and is envisaged to take at least 20 years to complete. The first phase of the mine's development is expected…

Zimbabwe's Platinum is not for Zimbabweans
  • Zimbabwe's platinum resources are out of reach for most of the investing public.
  • Platinum is one the largest generators of the foreign exchange for the southern African country.
  • Zimbabwe has generated the most income in foreign exchange since 2013 due in large part to high platinum prices.
  • There is currently no mechanism for investing in platinum for retail investors in Zimbabwe.
  • The Great Dyke in Zimbabwe is the second largest platinum resource in the world.

Zimbabwe's platinum is not for Zimbabwean people. This may at first come across as an outrageous and even preposterous statement however, there is plenty of truth in it. This precious metal has been central to the country achieving a trade surplus as reported in the country's Monetary Policy Statement in February 2022. The southern African country received US$ 9 billion in foreign exchange receipts in 2021 which was a staggering 53.5% higher than the figure…