Caledonia Mining has recorded a 6% year-on-year growth in production from its 64%-owned Blanket mine, in Zimbabwe, to 17 050 ounces (oz) for the first quarter of 2024.
Its sales also rose 17% to 18 450 oz from 15,797 ounces sold the previous year.
Caledonia said its full-year production guidance for the Blanket mine remains at between 74 000 oz and 78 000 oz.
"Our significant investment in Blanket over the past seven years and completion of the Central Shaft has nearly doubled production, extended the mine life and allowed the restart of underground exploration in 2023,” said company chief executive Mark Learmonth.
"We continue to see Blanket as the solid foundation for growth as we pursue our strategy to become a multi-asset gold producer."
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
