A METAL prices slump following a spike that was triggered by the Ukraine war has continued to hit miners, with Tharisa announcing this week that its Karo platinum project would be delayed by a year.
This also comes as the Chamber of Mines of Zimbabwe (CoMZ) has called on the government to intervene, warning that softening mineral prices were weighing down the viability of mining projects.
Describing its project delay as “prudent and strategic”, Tharisa said the project could still be accelerated if the markets were to become more favourable.
“Given the current PGM basket price weakness and uncertain global economic outlook, we have taken the measured decision to extend the Karo Platinum timeline out to commissioning by June 2025.
“The Karo Platinum Project has progressed well, and the revised timeline is aligned to funding availability and provides flexibility to navigate volatile market conditions,”
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