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.