Karo success story proves doubters wrong: ED – zbc.co.zw


President Emmerson Mnangagwa says the success story of Karo Resources’ US$4,2 billion platinum project flies in the face of doubters and other people who said his mega deals with other countries have failed.

The President was speaking after visiting Karo Resources’ Mhondoro Ngezi mine near Chegutu, where he had gone to assess operations at one of the platinum holding company’s exploration sites.

Cde Mnangagwa said the media has been spreading falsehoods that his mega deals with other countries have failed but the US$4,2 billion project which is expected to employ 25 000 workers when it is fully operational is a success story.

He added that the progress made so far at the site is indicative of the success of his engagement drive meant to attract more foreign direct investments (FDIs).

Owners of the project, Karo and Therisa said president mnangagwa’s vision will be realized as they are in the country to stay.

The Minister of Mines and Mining Development, Cde Winston Chitando who also visited the mining site said the mining sector will contribute more than 12 billion dollars to the national fiscus before 2030.

Karo Mining Holdings and the government of Zimbabwe signed an
investment project framework agreement in March 2018, with the company setting
a target of establishing a large scale vertically integrated Platinum Group
Metals (PGMs) mining complex in the Great Dyke.

Karo also targeted to design and construct fully integrated
facilities to ensure the maximum extraction of value from mining, through the
value chain to final Base Metal and Precious Metal refining.

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