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Caledonia confident of higher future output at Blanket

8th January 2015

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – Gold output at the Zimbabwe-based Blanket mine has surpassed TSX- and Aim-listed Caledonia Mining’s target of 40 000 oz for 2014.

The company was now targeting gold production of 42 000 oz from its 49%-owned subsidiary this year, with further progressive increases in output expected from 2016 when the mine pushed first production from below 750 m from the No 6 Winze and the Central shaft.

The total output of 41 836 oz reported for the year under review, while representing a 8.1% decline on the 45 527 oz produced in 2013, was 4.6% higher than the 2014 production guidance.

Fourth-quarter production was 8.3% lower year-on-year at 10 482 oz but 6% higher than the third-quarter output.

“Production in 2014 was affected by the lower grade and underground infrastructure constraints. I expect that production in 2015 will be marginally higher than production in 2014,” said Caledonia CEO Steve Curtis, relaying his confidence in a revised investment plan adopted in November.

Caledonia would publish the financial results for the quarter and year to December 2014 on March 31.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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