Caledonia Targets Multi-Asset Gold Production Expa...

Caledonia Targets Multi-Asset Gold Production Expansion

Rutendo Mazhindu- Zim Now Reporter

Caledonia Mining Corporation Chief Executive Officer Mark Learmonth presented the company’s investment strategy and growth plans at the Zeus Capital Mining Conference, highlighting its transformation into a multi-asset gold producer.

He said Blanket Mine remains the company’s backbone, producing about 75,000 ounces of gold per year and providing strong, consistent cash flow.

An updated mineral reserve estimate shows that Blanket has a life of mine to 2034, with potential to extend beyond 2040.

“We are now focused on becoming a multi-asset producer, and our development pipeline shows a clear path to producing over 200,000 ounces per year by 2028,” Learmonth said.

He noted that the Bilboes gold project’s preliminary economic assessment points to the production of approximately 1.52 million ounces over a 10-year period. Caledonia also sees significant exploration opportunities at Motapa, which is located near Bilboes.

Learmonth said the company has maintained a strong history of rewarding shareholders, having paid quarterly dividends since 2012. To date, over US$60 million has been distributed, with the company boasting one of the sector’s leading dividend yields.

Caledonia, which has operated in Zimbabwe for more than a decade, positions itself as a reliable partner in the country’s mining sector. It has paid over US$50 million in taxes in the past 10 years and continues to prioritise safety and responsible operations.

“Our strength lies in our experienced management team and strong local relationships. We are committed to operating safely and contributing to Zimbabwe’s economy,” Learmonth said.