JOHANNESBURG (miningweekly.com) – Aim-listed Caledonia Mining has reported record gold production from its Zimbabwe-based Blanket mine for the quarter ended December 31, 2017.
Production for the period totalled 16 425 oz of gold, a 14% increase on the previous quarter, and 21% higher than a year ago.
Production was 11% higher in 2017 than the previous year at 56 135 oz, which was just ahead of guidance.
“We are pleased to have achieved our full-year production guidance for 2017 and to have delivered a second consecutive quarterly production record at Blanket for the fourth quarter of 2017, surpassing the previous production record set in the third quarter,” said CEO Steve Curtis in a statement on Monday.
He added that the gold miner remained steadfast in its commitment to the production of safe profitable gold and that the initiatives introduced during 2017 to focus on the safe production of gold have been adopted and fully supported by the Blanket work force.
He added that 2017 was a pivotal year for Caledonia as the company announced its plans to extend the current central shaft project, with the resulting extension in mine life at Blanket following the encouraging exploration results that were achieved during the year.
Caledonia is undertaking a major upgrade at Blanket to boost production to 80 000 oz by 2021.
In the current year, Blanket is scheduled to produce between 55 000 oz and 59 000 oz.