Tharisa’s Karo Platinum project has secured a significant 25-year Special Mining Lease Agreement with the Government of Zimbabwe. The agreement, signed in Harare on Monday, August 24, 2026, with President Emmerson Mnangagwa in attendance, establishes the crucial tenure and fiscal certainty required to propel the project towards its first production phase.
The lease encompasses Karo’s extensive 23,903-hectare mining area situated on Zimbabwe’s mineral-rich Great Dyke. This landmark deal resolves a key area of uncertainty for the project, providing a clear fiscal and operational framework for its large-scale development. Tharisa has already invested over $240 million in Karo to date, positioning it as one of the largest undeveloped platinum group metals (PGMs) projects on the Great Dyke.
Key Players Involved
- Karo Platinum: The mining project securing the 25-year Special Mining Lease.
- Tharisa: Majority owner (85%) of Karo Mining Holdings, which controls Karo Platinum.
- Government of Zimbabwe: The entity granting the Special Mining Lease Agreement.
- President Emmerson Mnangagwa: Attended the signing ceremony, highlighting the national importance of the deal.
Event Timeline
- December 2022: Construction work on the Karo Platinum project commenced.
- June 2023: Pilot mining operations for the project began.
- Monday, August 24, 2026: The 25-year Special Mining Lease Agreement was officially signed in Harare.
