Caledonia maintains 50 000 oz FY production target at Zim mine
JOHANNESBURG (miningweekly.com) – Despite achieving lower-than-expected grades at its Blanket mine, in Zimbabwe, during October, Caledonia Mining remains confident that the mine will meet its 50 000 oz production target for the full year.
“Barring unforeseen circumstances for the remainder of 2016, the blanket mine continues to deliver good results and the investment plan to increase production to 80 000 oz of gold in 2021 is still on schedule, having met all its key milestones for the year,” CEO Steve Curtis said on Wednesday.
However, while Caledonia's underlying performance is expected to be in line with expectations and operations remain robustly cash generative, Caledonia has warned of lower-than-expected earnings a share for the full year, albeit still higher than those reported for 2015.
The company noted a number of factors that will adversely affect the company’s profitability for the full year. These factors include the strengthening of the rand against the dollar leading to higher dollar costs of rand-denominated expenses and nonrecurring costs incurred on the evaluation of various investment opportunities.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation