Tharisa may join Karo Resources in $4.2bn Zimbabwe platinum project
Nairobi/Johannesburg — Tharisa, the platinum and chrome miner run by the Pouroulis family, is considering investing in a $4.2bn platinum project in Zimbabwe being developed by another company founded by the family. Tharisa would join Karo Resources, founded by mining entrepreneur Loucas Pouroulis, in building the mine, located on the Great Dyke, a 550km range of hills rich in metals and minerals. The investment, initially estimated at $4.2bn, could be lower and the spending spread over eight years, according to Phoevos Pouroulis, CEO of Tharisa and Loucas’s son. They plan to produce 1.4-million ounces a year of platinum at full output by 2023. Karo is also in a joint venture with the Zimbabwean government, but declined to give details of the project’s ownership, Phoevos Pouroulis said, adding that the company may also consider listing or raising financing. "The potential is massive — if you look at the Great Dyke and the lack of investment over the past 15 or so years, its really be...
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