By Almot Maqolo.
Harare, Zimbabwe (News of the South) – Canadian based, Caledonia Mining Corporation’s 49 percent owned Blanket Mine in Zimbabwe recorded an increase in gold production for the quarter (Q1) ended March 31, 2017 of 12.794 ounces prior to 10.822 recorded in the same
period last year.
In the period under review, the gold produced by the company represents an 18 percent year on year increase.
Last year, the company gold production went up by 18 percent to 50.351 ounces which was the highest ever at its Blanket Mine near Gwanda in Matabeleland South Province.
“Production in the first quarter of 2017 showed a pleasing year on year improvement of 18 per cent, a trend which we anticipate maintaining, in line with our guidance for 2017,” Caledonia’s chief executive officer Steve Curtis, said on Thursday in a production for
the first quarter.
“Production continues to be supported by access to resources below the 750 meters level through the development of a second decline into the AR Main ore body as well as through the current decline at AR South and through the 6 Winze shaft.”
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Curtis said the production for Q1 was 6 per cent lower than the previous record quarter, but remains within planned production for the full year.
“This trend is in line with the historical quarterly production
profile at Blanket which typically experiences slightly lower production rates in the first quarter of each year due to holidays and mine scheduling,” he said.
In the outlook, he said, “We continue to be pleased with the production increases from Blanket following the implementation of the ongoing Investment Plan.”
The Canadian listed miner has budgeted $18 million investment for 2017 after spending over $36 million in the previous two years.
Caledonia has a long-term plan to ramp-up production at Blanket to 80.000 ounces by 2021.
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