Blanket Mine donates $16 million towards COVID-19 fight

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By Alois Vinga

BLANKET Mine has donated $16 million towards the country’s concerted fight against COVID-19 with further pledges to avail more assistance.

This was revealed by the firm in a recent press statement.

“Blanket Mine has donated $16 million via the Chamber of Mines Zimbabwe to assisting the fight against COVID-19 and has committed to make further weekly donations of $5 million to COVID-19 related projects provided it continues to operate at a reasonable level of production; and Blanket has provided practical assistance and supplies to local authorities,” the company said.

The mine has continued to operate during the country’s lockdown against the spread of Covid-19.

In light of the company’s consistently healthy balance sheet, the mining board resolved to declare a quarterly dividend which had previously been deferred.

“Our ability to make this dividend payment whilst at the same time making larger contributions to the fight against COVID-19 is testament to their silence of our business,” said Leigh Wilson, Caledonia’s Chairman.

“The continuation of the Caledonia dividend will, as usual, depend on factors including: maintaining a reasonable level of production; receiving payment in full and on-time for all gold sales.”

He said the corporation’s balance sheet remains in an enviable position and the dividend remains comfortably affordable.

Shareholders and depositary interest holders in Canada and the UK will be paid in Canadian Dollars and Sterling respectively.

The firm declared a dividend of seven and a half United States cents (US$0.075) on each of the Company’s common shares.