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Caledonia expects to produce more gold in Zimbabwe’s Blanket Mine

The company is exploring more potentials in Zimbabwes mining sector. (Image source: Khusen Rustamov/Pixabay)

Caledonia Mining Corporation Plc has produced approximately 15,012 ounces of gold during the Q4 2020 from the Blanket Mine in Zimbabwe, the company stated in its report

The record total gold production during 2020 was 57,899 ounces, the top end of the company’s revised increased guidance. 

Caledonia Mining Corporation has further stated that the gold production for 2021 is expected to be between 61,000 – 67,000 ounces.

Commenting on the announcement, Steve Curtis, CEO, said, “Despite the challenges of the COVID-19 pandemic, 2020 was a record year for Caledonia operationally, and we are on track for commissioning of Central Shaft to be completed in the first quarter of 2021.”

“In December, we also announced that we had entered into option agreements on two properties in Zimbabwe, delivering on our strategy of organic growth, while increasing the dividend for the fourth time at the start of January to 11 cents a share, creating genuine value and returns for our shareholders.”

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