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Caledonia Mining Corporation Plc has reported a strong Q2 2025 at its Blanket Mine in Zimbabwe, delivering 21,070 ounces of gold—a new second-quarter record, up from 20,773 ounces in Q2 2024.
By Ryan Chigoche
This impressive production performance follows H1 2025 output of 39,741 ounces, a 5.1% increase over the 37,823 ounces produced in H1 2024.
Based on these results, Caledonia has raised its 2025 gold production guidance to 75,500–79,500 ounces.
Commenting on the results, Chief Executive Officer Mark Learmonth said:
“Production in the first half of 2025 was excellent and has exceeded our expectations. As a result of this strong performance, we are increasing our annual production guidance. This performance is a testament to the dedication and hard work of our team.
“Blanket Mine continues to provide a solid foundation for growth. As we move forward, we are confident that it will continue to be a cornerstone of our success, driving value for our shareholders.”
All figures are reported on a 100% basis and reflect final assays from the refiner.
Blanket Mine continues to underpin Caledonia’s Zimbabwe operations, reinforcing its status as a cornerstone asset in the company’s portfolio.
Located in Zimbabwe’s Matabeleland South Province, Blanket Mine is one of the country’s longest-running underground gold operations. Acquired by Caledonia Mining Corporation Plc in 2010, the mine has steadily increased production through a combination of exploration, underground development, and process optimisation.
The mine exploits a series of gold-bearing quartz veins hosted within the Sebakwe Greenstone Belt, with mineralisation typically occurring in narrow, steeply dipping lodes. Blanket operates multiple underground stopes accessed via a decline system, supported by modern mining and processing infrastructure.
Meanwhile, shares in Caledonia Mining were up 4.3% at 1,590.00 pence in London on Wednesday morning.
