The Mining Lease area for the Karo Project covers an area of 23 903 ha and is located within the Great Dyke in the Mashonaland West District of Zimbabwe, approximately 80 km southwest of Harare and 35 km southeast of Chegutu.
The project, situated within a designated special economic zone ('SEZ'), is in the southern portion of the middle chamber of the Great Dyke and is supported by good infrastructure, including tarred road and power access in the project area.
The Great Dyke is a PGM-bearing geological feature that runs north to south. At approximately 550 km in length and up to 11 km wide, it is second to the Bushveld Complex of South Africa in terms of its PGM resource base.
On 31 March 2022, Tharisa plc exercised its farm-in option and acquired a controlling interest in Karo Mining. Tharisa currently holds a 70% stake of Karo Mining with Leto Settlements holding the balance.