A fresh injection of about US$540 million has been earmarked for the completion of the Karo Platinum Resources project in Mhondoro-Ngezi, a move expected to lift platinum group metals (PGM) output, deepen local beneficiation and create about 1 200 direct jobs.

The investment is seen as a major lift for Zimbabwe’s platinum sector and for efforts to extract more value from minerals mined locally.

Karo Platinum Resources Head of Processing, Mr Qhubekani Moyo, said the mine’s first phase will deliver about 226 000 ounces of PGMs per year, placing it in the same bracket as established operations such as Mimosa and Unki.

“Phase One of production will see us producing approximately 226 000 ounces of PGMs per annum. This will place us in the same league as producers such as Mimosa and Unki,” Mr Moyo said.

He acknowledged that Karo’s volumes will not match those of Zimplats, the country’s dominant producer, but said the project will still add significant weight to national output.

“While our production will still be below that of the country’s largest producer, Zimplats, we are coming in at a time when we will significantly boost Zimbabwe’s overall PGM production,” he said.

Beyond output, the project has been structured to push value addition further along the chain by concentrating ore before it leaves the processing plant.

“We are mining ore at a grade of about three grams per tonne, and through the work we are doing here, we will concentrate that ore to about 100 grams per tonne,” he said.

The economic gap between raw and processed material is stark, with a tonne of mined ore fetching roughly US$200 at prevailing market prices, while a tonne of concentrate commands close to US$7 000.

“That alone demonstrates the significant value addition we are bringing to the process. We are therefore contributing directly to the Government’s beneficiation policy by establishing this operation,” Mr Moyo said.

Mashonaland West Minister of State for Provincial Affairs and Devolution, Honourable Marian Chombo, said the development will stimulate economic activity across the province.

“I really believe that the policies being implemented by His Excellency are contributing to Zimbabwe’s growth. As Mashonaland West Province, we are doing what we are supposed to do, creating jobs and growing the economy through key sectors such as mining and agriculture,” she said.

The first ore is expected in the second half of 2027. Mining already accounts for about 16.7 percent of Mashonaland West’s Gross Domestic Product.