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Caledonia Mining on track to hit targets in 2017 as quarterly production at the 49%-owned Blanket mine rose by 18%.

Some 12,794 ounces of gold were produced, putting it on track for annual production of 60,000 ounces.
picture of gold bullion
Gold produced should hit 60,000oz

Zimbabwe-based gold miner Caledonia Mining Corporation Plc (LON:CMCL) is on track to hit targets this year as quarterly production at the 49%-owned Blanket mine rose by 18%.

Some 12,794 ounces of gold were produced, putting it on track for annual production of 60,000 ounces. The long-term target is 80,000 ounces by 2021.

WATCH: Zak Mir on Caledonia Mining

Steve Curtis, Caledonia's chief executive, said progress with the development below 750m at the mine was on schedule.

Quarter-on-quarter production dipped by 6% but Curtis said this was in line with the historical quarterly production profile at Blanket with holidays and mine scheduling affecting production.

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