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Caledonia Mining to see substantial earnings increase from Zimbabwe tax boost

Steve Curtis discusses with Proactive's Andrew Scott the impact on Caledonia Mining Corporation PLC (LON:CMCL TSX:CAL) from changes in Zimbabwe’s export credit rules.

The Reserve Bank of Zimbabwe raised the Export Credit Incentive (ECI) paid to all gold miners to 10% from 2.5% in February.

Assuming gold remains at US$1,260 per oz, the benefit to Caledonia - which owns 49% and runs the Blanket gold mine - might be an extra US$5.1mln over the full year to December.

Quick facts: Caledonia Mining Corporation

Price: 623 GBX

AIM:CMCL
Market: AIM
Market Cap: £67.05 m
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Caledonia Mining reports 'excellent performance' at Blanket has continued...

Caledonia Mining PLC's (LON:CMCL) Mark Learmonth talks Proactive London's Andrew Scott through the miner's third quarter update. Production at its Blanket mine in Zimbabwe rose by 7% in the period. Gross profits increased 75% to US$8.5mln helped by a higher gold price, though the...

3 weeks, 2 days ago

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