Caledonia sets new production record
Victoria Falls Stock Exchange-listed gold-focused miner Caledonia Mining Corporation has set a new quarterly gold production record of 21 772 ounces at its Blanket mine in Gwanda, making the mine one of the most performing in the country.
Rudairo Mapuranga
The miner also recorded a three per cent gold production increase from 21 120 ounces produced in the corresponding quarter of 2022.
According to Caledonia CEO Mark Learmonth, gold produced during the nine months to 30 September 2023 was 55 244 ounces and last year, Blanket Mine produced a record 80 775 ounces against a set target of 80 000 ounces.
Learmonth said the company targeted between 75,000 and 80,000 ounces of gold in 2023.
He said Blanket was constructing a new tailings storage facility which is expected to have a life of at least 15 years. He said there is exploration currently going on at Blanket which will extend the life of the mine.
“I am pleased that Blanket is performing well and we have set a new quarterly production record.
I look forward to achieving our guidance of between 75,000 and 80,000 ounces of gold for 2023.
“We have invested heavily in Blanket over the last seven years, including investment this year to construct a new tailings storage facility which is expected to have a life of at least years, based on the current production profile, and will support production well into the future.
“Encouraging drill results at Blanket indicate that there is additional mineralisation that may, in due course, be accessed using the current infrastructure and which should further extend the life of Blanket.
“Blanket continues to provide a solid foundation for the Company, providing us with a platform for our other growth projects in Zimbabwe,” Learmonth said.