President Mnangagwa yesterday officially launched the $4,2 billion Karo Resources consolidated platinum project in Mhondoro-Mubaira in Chegutu rural district , which is set to create a combined 90 000 jobs as Government steps up efforts to revive the economy under the new dispensation.
The first 15 000 jobs will come direct from employment by Karo Resources, while 75 000 will be created through secondary and tertiary industries when the project reaches its peak by 2023.
On top of that, the Karo Resources platinum mining project, one of the biggest investments secured , will generate 300 megawatts of solar energy — part of which will feed into the national grid.
As part of the investment, Karo Resources will build a world class mining complex with a refinery for platinum beneficiation.
The refinery will have concentration, smelting and refining capabilities, including a base metal and precious metal refineries.
Speaking at a groundbreaking ceremony for the project along the mineral-rich Great Dyke and occupying 23 900 hectares of land, President Mnangagwa said the projects he was launching were not a political gimmick to get votes in next week’s harmonised elections.
He said these typified the thrust of his new dispensation, to focus on development in line with his vision to make Zimbabwe a middle income economy by 2030.
Karo Resources will be extracting platinum at a depth of just 40 metres, unlike in South Africa where miners have to drill over a thousand metres to reach the platinum ore.
President Mnangagwa said the Karo Resources project will change the face of mining in Zimbabwe and was in line with his mantra that “Zimbabwe is Open for Business”