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About Karo Mining

Our Vision,
Structure and
Leadership

Our journey is anchored in a clear vision: to be a globally significant, low-cost producer of strategic commodities required to deliver a sustainable future.

Our flagship Karo Platinum Project, situated on Zimbabwe’s renowned Great Dyke, combines a 10-year open-pit phase with a longer 30+ year underground phase. Returns may be further enhanced if current studies to utilise the base metal reef, rich in copper, nickel, and cobalt, prove successful.

Our Identity:

Pioneering Responsible Mineral Development

Karo Mining Holdings is committed to setting new benchmarks for sustainability in the Platinum Group Metals sector. The Karo Platinum Project is an 85% / 15% joint venture between Karo Mining Holdings and Generation Minerals, a Special Purpose Vehicle of the Republic of Zimbabwe, held on a free-carry basis.

Our values guide every aspect of our operations:

Our Identity

Safety and Health

The safety and health of our people is a core value.

Environmental Responsibility

We take responsibility for the environmental impact of our operations and act to minimise it.

Community Upliftment

Invest in local communities to create shared benefits.

Integrity and Honesty

Operate with transparency and ethical conduct.

Shareholder Returns

Deliver sustainable, superior returns.

Innovation

Originate new opportunities and embrace continuous improvement.

A Foundation of Strength:

Our Strategic Group Structure

Our robust corporate structure is built on powerful strategic alliances that drive our growth and ensure long-term stability. This foundational strength enables us to execute our ambitious projects with confidence and efficiency.

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Tharisa plc

In March 2022, Tharisa exercised its farm-in option, acquiring a 70% stake in Karo Mining Holdings. As our majority shareholder, Tharisa is a leading integrated resource group whose broader vision is to become a diversified developer in the global resources sector. This partnership provides invaluable expertise, capital, and strategic direction.

Republic of Zimbabwe

Holds a 15% free-carry stake in the Karo Platinum Project through Generation Minerals. This collaborative model underscores our commitment to national participation and shared prosperity, ensuring that the project’s success directly benefits the Zimbabwean people and economy.

21
Tharisa PLC
85%
Medway
15%
Karo Mining Holdings
100%
Karo Zimbabwe Holdings
85%
Generation Minerals*
15%
Karo Platinum Holdings
100%
Our Leadership:

Visionary Guidance
and Expertise

Our strategic direction and operational excellence are guided by a team of highly experienced, forward-thinking leaders. Bringing together deep expertise in mining, finance and international affairs. This leadership team plays a pivotal role in realising the full potential of the Karo Platinum Project and delivering on our commitment to responsible, sustainable growth.

Phoevos Pouroulis

Chairperson

As the Chief Executive Officer of Tharisa plc, he oversees strategy and management. With over two decades of experience, he has held various senior operational and managerial positions in the mining industry, focusing on PGM and chrome in South Africa since 2003. He is also a board member of the World Platinum Investment Council.

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Bernard Pryor

Managing Director

A Metallurgical Engineer with over 35 years of international mining experience, he has held senior executive roles in project acquisition, evaluation, development, construction, and management of large-scale mining assets globally. His previous roles include CEO of Alufer Mining and African Minerals Limited, and senior positions at Anglo American Plc.

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Gloria Zvaravanhu

Chartered Accountant

A chartered accountant with postgraduate qualifications in Business Leadership and International Business Law. She is the Managing Director of a leading insurance company in Zimbabwe and has held senior roles at companies including KPMG. She is also an experienced non-executive director and an advisory board member of the International Federation of Accountants.

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Josephat Zimba

Country Manager for Zimbabwe

Josephat has more than 20 years’ experience in the field of Metallurgical Engineering covering both Materials Engineering and Extractive Metallurgy. He is also a consummate Scientist and has held various Visiting Scientist appointments at Princeton University (Department of Mechanical and Aerospace Engineering and the Princeton Institute for the Science and Technology of Complex Materials), Rutgers University (Chemistry Department) and the National Renewable Energy Laboratory (Solar Technology) among other institutions.

Josephat has been with the Tharisa Group for more than 13 years and has served in various capacities. He is currently the Country Manager for Zimbabwe and has been involved with the Karo project since its inception. Josephat is a Fellow of the Zimbabwe Academy of Sciences and a Past President of the Africa Materials Research Society (AMRS). He is a Board Member of the Africa MRS and a past Senate member of the International Union of Materials Research Societies (IUMRS).

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Michael Jones

Chief Finance Officer of Tharisa plc

Michael Jones is the Chief Finance Officer of Tharisa plc (the major shareholder in Karo) and is responsible for the overall financial operation and the financial reporting management of the Group.

Michael has more than nine years senior financial management experience in the mining exploration and development sphere. In addition, he has 18 years’ experience in investment banking, focusing on mergers and acquisitions and capital raisings of both equity and debt.

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Shawn McCormick

Non-Executive Director of LSE-listed Rainbow Rare Earths

Shawn McCormick is an international affairs specialist with over 30 years’ experience in government policy making and managing “above ground” risks in the extractive industries sector.

Having first visited Zimbabwe in 1990, McCormick served as Director for African Affairs at the National Security Council in The White House in Washington, D.C., overseeing all aspects of American foreign policy toward the continent.

Shawn’s previous corporate roles have included Senior Global Affairs Advisor and Africa Regional Director for BP in London and Vice President for International Affairs at TNK-BP in Moscow.

He currently serves as Non-Executive Director of LSE-listed Rainbow Rare Earths (South Africa and Burundi) and Chairman of Trinity Metals (Rwanda).

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Adonis Pouroulis

Mining Entrepreneur

Adonis is a mining entrepreneur whose expertise lies in the discovery, exploration, financing and development of mineral resources including diamonds, precious metals, base metals and more recently battery metals. Adonis has led various teams that have built new mining assets from exploration through and into production. Adonis has worked in the sector for over 25 years and has been influential in the founding, financing and growth of a number of companies, including Petra Diamonds. Adonis founded Petra in 1997 and it became the first diamond company to float on AIM. He was executive chair of Petra until 2011 and oversaw it becoming one of Africa’s largest diamond producers leading to Petra being a constituent of the FTSE250 for many years. After more than 20 years at the helm of Petra he stepped down in 2020. Adonis is the founder and chair of the Pella Resources Group, an African focused natural resources group. Pella has collaborated and been a seed investor in various technology metal related and renewable energy companies operating globally.

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