News

Zimbabwe: Tharisa Minerals acquires 26.8% stake in Karo Holdings

  • Comments   -   Wednesday, 13 June 2018 - 15:28

(Ecofin Agency) - Tharisa Minerals announced today June 13 it has acquired a 26.8% stake in Karo Mining Holding for $45 million. Karo is active on a Platinum Group Metals (PGM) project in Grand Dyke rock formation which hosts low-cost open-pit PGM deposits at significant palladium and base metal grades.

This acquisition gives Tharisa access to a 23,903 hectare area containing a 96 million ounce PGM resource (on a 4E basis). The company indicated that it could increase stake through further investments.

Tharisa was not previously involved in Zimbabwe due to political uncertainty in the country. Recent improvements in the political landscape have precipitated a decision by Tharisa to explore geographic diversification opportunities in Zimbabwe, renowned for having the world's largest PGM deposits outside of South Africa,” the company reported in a press release.

Let’s note that the project is expected to produce 1.4 million ounces of platinum group metals annually by 2023.

On October 18, 2018, Léon Juste Ibombo, Congo’s minister of posts and...
Read more |  19 October 2018
JSE - listed (Johannesburg Stock Exchange) IT company Altron and Huawei partnered to...
Read more |  19 October 2018
Bank of Kigali will issue new shares at CFA270 each, the bank...
Read more |  19 October 2018
Kenya plans to attract about 2.5 million tourist arrivals per year by...
Read more |  19 October 2018
Tunisia is being watched by the Eurobond market following its announcements that...
Read more |  19 October 2018
The African Development Bank’s efforts to channel critical investment funding to Africa’s...
Read more |  19 October 2018
Kenya plans to attract about 2.5 million tourist arrivals per year by...
Read more |  19 October 2018
Tunisia is being watched by the Eurobond market following its announcements that...
Read more |  19 October 2018
The African Development Bank’s efforts to channel critical investment funding to Africa’s...
Read more |  19 October 2018

Copyright Agence Ecofin © 2018. All Rights Reserved.