Victoria Falls Stock Exchange-listed miner Caledonia Mining Corporation recorded a marginal 0.6% increase in gold production to 19,106 ounces for the quarter ended September, up from 18,992 ounces posted in the prior comparable period, Mining Zimbabwe can report.
By Ryan Chigoche
The improved output in the third quarter lifted the company’s cumulative gold production for the nine months to the end of September to 58,846 ounces, reflecting a 3.6% rise from 56,815 ounces achieved in the same period last year.
This steady performance underscores the strength of operations at Caledonia’s flagship Blanket Mine, which continues to anchor the company’s growth and operational plans.
Commenting on the results, Caledonia Chief Executive Mark Learmonth attributed the consistent performance to sustained operational discipline and targeted investments.
“We’re pleased to report another quarter of solid performance at Blanket, building on the exceptional start to the year. The consistency of our output reflects the strategic investments we’ve made across the business, and we remain on track to meet our increased production guidance,” Learmonth said.
In line with this strategy, Caledonia has been implementing a capital investment programme worth around US$41.8 million for 2025, with US$34.9 million channelled towards Blanket Mine to modernise operations, enhance safety systems, and expand production capacity.
The miner also reported improved metallurgical recoveries, achieving a record 94.4% recovery rate in Q2 2025 — a development that continues to support stronger quarterly output and efficiency gains.
Looking ahead, Caledonia reaffirmed its gold production guidance for 2025, projecting between 75,500 and 79,500 ounces as operational upgrades and resource optimisation initiatives continue to take effect.
However, despite the strong performance, the company expressed deep regret over a fatal incident involving a Blanket Mine employee during the period, following an accident related to secondary blasting.
“On behalf of Caledonia, I extend our heartfelt condolences to the family and colleagues of the deceased. The safety and well-being of our workforce remain our highest priority,” Learmonth added.
