Caledonia Mining reports fatality at Blanket Mine
The accident involved a LHD loader in one of Blanket's underground haulages
Company
LON:CMCL
Caledonia Mining Corporation Plc is a Zimbabwean focused exploration, development and mining corporation. The company owns a 64% stake in the gold-producing Blanket Mine, 100% stakes in the Bilboes Sulphide Project and the Motapa and Maligreen gold mining claims, all situated in Zimbabwe. After increasing the production at Blanket to 80,000oz in 2022, its main focus areas are to maintain production at around 75-80,000oz at Blanket, progress the Bilboes project and become a multi-asset gold producer in Zimbabwe.
508 stories · page 9 of 26
The accident involved a LHD loader in one of Blanket's underground haulages
He has been in the role for nine years and has been hailed for his work on the central shaft project at Blanket Mine
Caledonia has built up a long track record of successful gold production at Blanket
Caledonia has been producing gold in Zimbabwe for many years
The company's current chief financial officer, Mark Learmonth, to succeed him as CEO
Caledonia has built up a strong track record of gold production in Zimbabwe
Caledonia said it is expecting to finalise the process of transferring the claims from the seller shortly
Caledonia narrows 2021 production guidance from 61-67,000 ounces to 65-67,000 ounces
Caledonia has a long track record of successful production at Blanket
Caledonia has a 64% share in the Blanket gold mine also in Zimbabwe
It has decided not to exercise an option over the Glen Hume area
If the miner proceeds, the listing is expected to take place during 2021
It also declared a dividend of US$0.13 per share for the second quarter
The report validates the company's medium-term production profile targeting 80,000 ounces per annum from 2022
"Gold production has often been lower in the first quarter of each year and increases in the following quarters," said chief executive Steve Curtis
"Our new Central Shaft, which is the deepest shaft of any gold mine in Zimbabwe, is fully operational," said chief executive Steve Curtis
Caledonia expects gold output to rise to between 61,000 and 67,000 ounces this year, with production expected to begin to ramp up to about 80,000 ounces in 2022
The company said the index forms the basis of various passive gold sector investment funds in the North American market, most significantly the US$5.2bn VanEck Vectors Junior Gold Miners ETF
“She has significant experience of working in Africa, as well as in the fields of sustainability and community engagement which are both central to our vision of being a socially responsible business,” said chairman Leigh Wilson
Despite the coronavirus pandemic, output at the Blanket Mine in Zimbabwe was at the top end of the company's guidance range