THARISA, a UK-listed chrome and platinum group metal (PGM) company, is considering joining Karo Resources in a proposed $4.2bn PGM mine in Zimbabwe. Karo is operated by Loucas Pouroulis, the father of Tharisa CEO, Phoevos Pouroulis.
“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 been left dormant,” Phoevos Pouroulis told Bloomberg News. “There has been no real large scale investment, certainly we think its got lot of potential to regenerate the economy,” he said.
Earlier this month, Tharisa agreed to buy 90% in Salene Chrome Zimbabwe, a deposit along the Great Dyke with the potential to produce around 100,000 metric tons of concentrates a month at full capacity, said Bloomberg News citing Phoevos Pouroulis. The investment could be as much as $90m, spread over six parts of $10m to $15m.
