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PAPHOS, Cyprus - Tharisa plc, an integrated resource group, announced the publication of an Independent (LON:IOG) Competent Persons’ Report (CPR) on the Karo Platinum Project in Zimbabwe. The report, dated April 9, 2025, is now available on the company’s website and details the Mineral Resources and Mineral Reserves of the project.
Karo Platinum, in which Tharisa holds a 65.59% stake, is currently under construction and is situated approximately 85 km west-southwest of Harare in Zimbabwe’s Mashonaland West Province. The development plan includes the opening of four open pits and an on-site processing facility capable of handling 220,000 tonnes per month.
The CPR was compiled in accordance with the South African Code for Reporting of Exploration Results, Mineral Resources and Mineral Reserves (SAMREC Code) and the South African Code for the Reporting of Mineral Asset Valuation (SAMVAL Code). It meets all requirements of Section 12.10 of the Johannesburg Stock Exchange (JSE) Listings Requirements for Mineral Companies.
Kenneth Graham Lomberg, Otto Wilhelm Warschkuhl, and Jacobus Adriaan Myburgh, recognized as Competent Persons, were responsible for the report. Myburgh also served as the Competent Valuator for the CPR.
The report indicates that all licenses and permits required for the project are secured in the name of Karo Platinum. The company has complied with Zimbabwean legal requirements, including licensing, environmental, and social aspects. No significant risks have been identified with the current and planned permitting process.
Tharisa, listed on both the JSE and the London Stock Exchange (LON:LSEG), operates primarily in the mining and beneficiation of Platinum Group Metals (PGMs) and chrome concentrates. The company is actively involved in the energy transition and aims to reduce its carbon footprint by 30% by 2030, with a long-term goal of becoming net carbon neutral by 2050.
The release of the CPR represents a compliance milestone for Tharisa as it continues to expand its mining operations in Zimbabwe. The Karo Platinum Project is poised to become a significant asset in the company’s portfolio, contributing to its position in the PGM market.
This information is based on a press release statement from Tharisa plc.
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