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Caledonia Mining hails record year of output at Blanket

Despite the coronavirus pandemic, output at the Blanket Mine in Zimbabwe was at the top end of the company's guidance range

Caledonia Mining Corporation PLC -

Caledonia Mining Corporation PLC (LON:CMCL) has said its Blanket Mine in Zimbabwe knocked out a record amount of gold in 2020.

Production in 2020 of 57,899 ounces was at the top end of the company’s guidance range. Around 15,012 ounces of gold were produced in the final quarter of the year.

Caledonia said gold production for 2021 is expected to fall between 61,000 and 67,000 ounces.

"Despite the challenges of the Covid-19 pandemic, 2020 was a record year for Caledonia operationally, and we are on track for commissioning of Central Shaft to be completed in the first quarter of 2021. In December we also announced that we had entered into option agreements on two properties in Zimbabwe, delivering on our strategy of organic growth, while increasing the dividend for the fourth time at the start of January to 11 cents a share, creating genuine value and returns for our shareholders,” said Steve Curtis, the chief executive officer of Caledonia in a statement.

Quick facts: Caledonia Mining Corporation PLC

Price: 1025 GBX

Market: AIM
Market Cap: £124.22 m

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