Tharisa is doubling down on a major platinum group metals project in Zimbabwe. The Cyprus-based miner increased its ownership stake in the Karo Platinum Project to over seventy eight percent, reflecting its long term growth strategy. The project's book value climbed to three hundred eighty-five million dollars after continued capital investment. Executive Chairperson Loucas Pouroulis stated the asset strengthens the group's pipeline and provides future optionality in the PGM sector.
Located on the Great Dyke, the project holds a massive estimated resource. The company reports that it contains over eleven million ounces of PGMs across a vast mining lease. At current metal prices, that resource could be worth around twenty billion dollars gross. CEO Phoebos Pouroulis noted progress on critical infrastructure like water and power supply, alongside ongoing talks with the government on fiscal terms to secure project funding.
Despite a slower development pace and reduced annual spending, the company performed an impairment test. Using a discounted cash flow model, they determined the project's recoverable value still exceeds its current carrying amount. Tharisa anticipates that the phased development could begin adding significant annual PGM production from 2027 onward, diversifying its asset base.
Located on the Great Dyke, the project holds a massive estimated resource. The company reports that it contains over eleven million ounces of PGMs across a vast mining lease. At current metal prices, that resource could be worth around twenty billion dollars gross. CEO Phoebos Pouroulis noted progress on critical infrastructure like water and power supply, alongside ongoing talks with the government on fiscal terms to secure project funding.
Despite a slower development pace and reduced annual spending, the company performed an impairment test. Using a discounted cash flow model, they determined the project's recoverable value still exceeds its current carrying amount. Tharisa anticipates that the phased development could begin adding significant annual PGM production from 2027 onward, diversifying its asset base.
