Business / Companies
Cyprus-based firm plans $4 billion platinum project
05 Mar 2013 at 05:18hrs | Views
A Cyprus-based firm has expressed interest in setting up a $4 billion platinum mine following government's repossession of huge mining ground previously held by the country's top mining company.
Karo Resources Limited, through its chairman Loucas Pouroulis last month wrote to Mines and Mining Development minister Obert Mpofu seeking permission to mine the white metal on land which was required from Zimplats.
Karo indicated that it has plans to build a 300MW coal-fired power station, which will supply Karo platinum group metals and coal mining and processing operations, with excess power directed to the national grid.
The proposed operation, according to Karo Redsources, will create 15 000 full-time direct employment jobs, with several thousands more created in support industries.
Karo Resources Limited, through its chairman Loucas Pouroulis last month wrote to Mines and Mining Development minister Obert Mpofu seeking permission to mine the white metal on land which was required from Zimplats.
The proposed operation, according to Karo Redsources, will create 15 000 full-time direct employment jobs, with several thousands more created in support industries.
Source - newsday
