Caledonia's Zimbabwe mine achieves record first quarter
Aim-listed Caledonia Mining 's Blanket mine, in Zimbabwe, produced 18 671 oz of gold in the first quarter of this year, exceeding the 17 050 oz produced in the first quarter of 2024.
This is a new first-quarter production record, surpassing the previous high of 18 515 oz achieved in the first quarter of 2022.
Tonnes milled for the quarter were 201 755 t, 23 793 t (13.4%) above expectation.
The surface stockpile increased to 15 000 t as run-of-mine production exceeds milling capacity.
Blanket remains on track to achieve gold production guidance of 74 000 oz to 78 000 oz this year.
CEO Mark Learmonth welcomed the strong quarterly performance, especially considering that the first quarter is traditionally the weakest for the company.
'This achievement reflects continued operational improvements and the dedication of our team on the ground. The significant increase in both tonnes milled and the surface stockpile provide a strong foundation for the remainder of the year.
'This is an excellent start, and, with a strong gold price, we are well positioned to generate healthy cash flows and to continue investing in our growth projects,' he says.
© Copyright The Zimbabwean. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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