Blanket Mine in record production of over 2 tonnes
Victoria Falls Stock Exchange (VFEX) listed gold-focused miner Caledonia Mining Corporation’s Blanket mine in Gwanda has produced a record 2.1 US tons in 2021 marking a 17 per cent increase from the previous year an indication that the miner is one of the top players for the country in achieving 100 tonnes gold by 2023.
Rudairo Mapuranga
Through the US$12 billion mining roadmap, the gold sector in Zimbabwe is expected to contribute US$4 billion annual revenue by 2023 with the Minister of Mines and Mining Development Hon Winston Chitando confident, Blanket mine will contribute significantly towards the mark.
Blanket mine recorded total gold production of 67,476 ounces during 2021, exceeding the Company’s revised increased guidance and a 17 per cent increase on 2020 annual production
According to Caledonia’s CEO Steve Curtis, the year 2021 has been outstanding for Blanket mine leading the company to revise its production guideline for 2022 with gold production for 2022 is expected to be between 73,000 to 80,000 ounces.
“This has been an outstanding performance and a tremendous team effort. I would like to thank all our employees for their hard work in achieving this result and that we were able to exceed our revised annual production guidance,” Curtis said.
The mine achieved a quarterly production of 18,604 ounces of gold; a 24 per cent increase on the 15,012 ounces in Q4 2020 leading Caledonia Chief to conclude that the commissioning of the central shaft was significant in the production increase.
“The commissioning of the Central Shaft, record gold production, along with a continued commitment to safety, all in one year, is an outstanding achievement and testament to the quality of the Caledonia technical team.”
“Now that the Central Shaft is complete, the Company will also focus on other areas of its growth strategy, as we continue to evaluate investment opportunities, with a vision of becoming a multi-asset gold producer.” Steve Curtis said.