- July 10, 2020
- Posted in LOCAL
Caledonia Mining Corporation, which owns Blanket Mine, says it has increased quarterly output by over 12 percent in the first half despite the challenges created by the coronavirus pandemic.
The miner described its production performance in the last quarter as an outstanding achievement, with gold output rising 6,2 percent at 13 499 ounces in the three months ended June 30, 2020.
It marked production for the first half of 2020 at 27 732 ounces, up 12,5 percent versus the same period last year.
“The production of 13 499 ounces in the second quarter is an outstanding achievement given the challenges faced during the quarter as a result of the Covid-19 Pandemic,” Steve Curtis, Caledonia’s chief executive said in a statement.
Curtis added: “For production to be 12.5 percent ahead of the corresponding 2019 level at the half-year stage leaves us well placed for the full year and on track to meet our full-year guidance of 53 000-56 000 ounces.
“This strong performance and high gold prices have ensured that the business remains on a very solid foundation as we prepare for the next phase of our growth with the completion of the central shaft in 2020 and increased production to 80 000 ounces by 2022.”
Meanwhile the miner is still expecting to close the year with its forecast production output of between 53 000 to 56 000 ounces.
By 2022, production is expected to have reached 80 000 ounces