Caledonia Mining Corporation has announced that global asset manager BlackRock, Inc. has crossed a regulatory threshold in its shareholding, prompting a formal disclosure of major holdings.
The development relates to BlackRock’s voting rights and financial instruments tied to Caledonia shares, as required under the AIM Rules for Companies in London.
Caledonia said it received a notification from BlackRock on 9 December 2025 confirming that, on 8 December, the fund manager’s interest in the company moved through a reportable threshold. The company described the change as a “relevant” shift in a significant shareholder, triggering mandatory market disclosure.
According to the notice, BlackRock now controls 5.37% of Caledonia’s voting rights when combining direct share ownership and financial instruments with similar economic effects. This includes 5.02% of voting rights attached to shares and an additional 0.34% held through financial instruments.
Regulatory Disclosure Details
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The notification was submitted via the standard TR-1 form for major holdings, filed with both the issuer and the UK Financial Conduct Authority. Caledonia is classified in the filing as a non-UK issuer, with its shares traded on the NYSE American, AIM, and the Victoria Falls Stock Exchange under the ticker CMCL.
BlackRock, Inc. is listed as the entity responsible for the notification, with the disclosure outlining a chain of controlled undertakings through which the voting rights and financial instruments are held. The subsidiaries span the United States, the United Kingdom, Jersey, the Cayman Islands, and Canada—illustrating the breadth of BlackRock’s global asset management structure.
Other Major Shareholders
Caledonia’s shareholder base includes several other major U.S. institutional investors, among them:
- Van Eck Associates Corporation
- State Street Corporation
- Geode Capital Management, LLC
- Goehring & Rozencwajg Associates, LLC
- Dimensional Fund Advisors LP
- Northern Trust Corporation
- Bridgeway Capital Management, Inc.
- Vanguard Group Inc., the world’s second-largest asset manager with around US$7.2 trillion under management
- Bank of America Corporation
These investors collectively underline Caledonia Mining’s strong exposure to large global asset managers.
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