Tharisa has noted an update published by subsidiary Karo Mining, which has a structured debt instrument listed on the Victoria Falls Stock Exchange (VFEX).
Gloria Zvaravanhu was appointed as an independent non-executive director and chairman of the audit committee on 5 April 2023 while Rachel Rhodes resigned on 5 June 2023.
Andrew Henwood was appointed as financial director on 5 June 2023. He is also responsible for corporate finance at Tharisa.
At the site, Karo commenced construction of bulk earthworks in December 2022, and the first concrete was poured in June 2023.
In the same month, open pit pilot mining commenced to optimise the mining methods and produce ore to further test and refine metallurgical processing.
At nameplate capacity, Karo will process approximately 2.5 Mtpa of ore and produce 190,000 pa of platinum group metals (6E basis).
As of 30 June 2023, Karo employed 540 people on site, of which 99 are employees, with the balance being contractor employees.