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Exploration|Gold|Mining|Underground
Exploration|Gold|Mining|Underground
exploration|gold|mining|underground

Caledonia's Blanket mine lifts its first-quarter output by 6% y/y

10th April 2024

By: Chanel de Bruyn

Creamer Media Senior Deputy Editor Online

     

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Gold miner Caledonia Mining Corporation has reported a 6% year-on-year increase in production from its 64%-owned Blanket mine, in Zimbabwe, to 17 050 oz for the first quarter of this year.

Gold sales also increased by 17% year-on-year to 18 450 oz.

Caledonia maintains its full-year production guidance for the Blanket mine at between 74 000 oz and 78 000 oz.

"Our significant investment in Blanket over the past seven years and completion of the Central Shaft has nearly doubled production, extended the mine life and allowed the restart of underground exploration in 2023.

"We continue to see Blanket as the solid foundation for growth as we pursue our strategy to become a multi-asset gold producer," CEO Mark Learmonth comments.

In addition to its shareholding in the Blanket mine, the company also wholly owns the Bilboes mine, as well as the Motapa and Maligreen gold claims in Zimbabwe.

 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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