VETERAN mining enterpreneur, Loucas Pouroulis, wants to use some of the output from a proposed $4.2bn platinum project in Zimbabwe to manufacture catalytic converters, technology that is used to reduce toxic emissions from cars, said Reuters.
Citing Zimbabwe mines minister, Winston Chitando, who was commenting in Parliament, Reuters wrote: “One of the players within Karo is in the production of catalytic converters. They have requested to have a partnership where some of the platinum which will be coming from the precious metal refinery will actually be feeding into a catalytic converter plant, which will be installed on that site”.
Karo Resources was founded by Pouroulis. In March, the company signed an agreement with the Zimbabwean government to build a platinum mine and refinery in Zimbabwe’s Mhondoro-Ngezi platinum belt.
Little is known about Karo, which targets starting production at the plant in 2020 – a timeline Reuters said looked ambitious citing the views of analysts. Chitando said it was a realistic target, however: “The speed with which they are moving in terms of coming to establish sight (and) in terms of the mobilisation of equipment, I would like to believe that the timelines which are in the agreement will be met,” he said.
Earlier this month, Loucas Pouroulis’ son, Phoevos, who is CEO of London- and Johannesburg-listed Tharisa, announced plans to dig for chrome in Zimbabwe, committing to spend about $3.5m on development of resources and a pilot plant.
