[HERALD.CO.ZW] Government yesterday signed a $4,2 billion platinum investment agreement with a Cyprus-based company, Karo Resources, as investors continue to show confidence in policies formulated under the new dispensation. The deal — the largest to date in the mining sector — was signed at Munhumutapa Offices in Harare by Mines and Mining Development Minister Winston Chitando and Karo Resources chairman Mr Loucas Pouroulis at a ceremony attended by President Mnangagwa, Vice President Kembo Mohadi and senior Government officials.
The mine will be located in the Mhondoro-Ngezi area, while the deal includes the establishment of a 600MW thermal power station in Matabeleland North and chrome mining. |