Karo launches Zim platinum project
latinum producer Karo Platinum last week officially launched the Karo platinum project, in Chegutu, Zimbabwe.
“We are excited about partnering with Zimbabwe and its people in building a long-term and sustainable business,” Karo chairperson Loucas Pouroulis said in a statement.
Karo will spend $8-million on a geological exploration programme to confirm and delineate the orebody before progressing to the bankable feasibility study.
Karo considers this to be a highly prospective area, which is estimated to contain some 96-million ounces of platinum-group metals (PGMs) at a projected resource grade of 3.2 g/t on a platinum, palladium, rhodium and gold, or 4E, basis.
The project is expected to deliver about 14.4-million tons of run-of-mine ore a year.
The conceptual designs are based on the operation of four openpit mining operations, the first of which will begin operating in 2020.
“The scalable nature of the project allows for a staged transition to underground operations at a later date, and material will be processed by Karo Refining.”
At steady state, the platinum mining complex is expected to produce 1.4-million ounces of refined PGMs a year. The refinery will treat up to two-million ounces of PGMs a year, providing an additional 600 000 oz for toll refining by other PGM producers in the country.
The integrated mining and refining complex includes the establishment of a 300 MW solar power plant, which will feed power into the Zimbabwe electricity grid.
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