The Pouroulis family is growing its platinum empire with a deal to bring its South African mining experience to Zimbabwe to exploit one of the highly sought-after and undeveloped areas on the world’s second-biggest known platinum deposit. In the second deal between two Pouroulis family-owned entities, Tharisa, a London-and Johannesburg-listed chrome and platinum mining company operating near Brits, has for $4.5m bought a 26.8% stake in Karo and its resources of four platinum group metals estimated at 96-million ounces.
Karo has secured about 87% of the land and resources Impala Platinum subsidiary Zimplats returned to the Zimbabwean government recently in that country’s efforts to attract more investment by opening the 550km-long Great Dyke mineral belt to other companies. Tharisa would extend a loan of $8m to fund an exploration programme, which it hoped to complement with drilling and geological data from Zimplats and its work on the tenement, and to start a bankable feasibi...
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