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Caledonia is a Mining, Exploration and Development company focused on Southern Africa. Caledonia’s primary assets are a 49% interest in the Blanket Mine ("Blanket") in Zimbabwe and a 100% interest in the Nama base metals exploration project in Zambia. Caledonia’s shares are listed on the Toronto Exchange (CAL), on London’s AIM (CMCL)...Read more
Caledonia Mining confirms record annual production at BlanketJanuary 14 2013, 7:38am
Caledonia Mining’s (LON:CMCL TSE:CAL) Blanket Mine in Zimbabwe notched up a new annual production record in 2012, despite output easing slightly in the last three months of the year.
Total gold production for 2012 was 45,600 ounces (oz), a 27% increase over 2011’s 35,800 oz.
Blanket’s quarterly production to December of 11,980 oz was lower than the record 12,919 oz achieved in the previous three months, but was a 14% increase on the previous year’s fourth quarter.
Stefan Hayden, Caledonia's president and chief executive said: "As anticipated and as previously advised, gold production in Q4 was lower than in Q3 as the achieved grade returned towards the long term average of 3.84 g/t [grams per tonne].
“The production of 11,980 oz achieved in Q4 is an excellent performance by Blanket and is 16.5% higher than the targeted production of 10,000 oz/quarter. “
Caledonia recently unveiled plans to increase production at Blanket by 90% to 76,000 ounces annually over the next three years.