Dual-listed Caledonia Mining Corporation is on course to produce between 65 000 oz and 67 000 oz of gold this year from its Blanket mine, in Zimbabwe.
It produced18 965 oz in the three months ended September 30, which was a record 25% year-on-year increase.
“This quarter, we have once again set a new production record as Blanket begins to reap the rewards of the substantially increased production capacity following the commissioning of the Central shaft in March,” said company chief executive Steve Curtis.
“The ramp-up in production towards our quarterly target of 20 000 oz has met our best estimate and, consequently, we have been able to narrow our annual production guidance from between 61 000 and 67 000 oz to between 65 000 and 67 000 oz.”
Caledonia is targeting to produce 80 000 oz of gold next year.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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