Caledonia’s Gwanda gold mine exceeds target in ‘outstanding performance’

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Gold miner Caledonia Mining achieved record production of 67 476 oz of gold from the Blanket mine, in Zimbabwe, during 2021, exceeding its revised increased guidance.

Output was also 17% higher year-on-year.

For the quarter ended December 31, 2021, production was 18 604 oz – a 24% increase on the 15 012 oz produced in the corresponding period of the prior year.

Gold production for 2022 is expected to be between 73 000 oz and 80 000 oz.

Caledonia has achieved more than 2.4-million fatality-free shifts since 2018.

“This has been an outstanding performance and a tremendous team effort. I would like to thank all our employees for their hard work in achieving this result and that we were able to exceed our revised annual production guidance.

“The commissioning of the Central Shaft, record gold production, along with a continued commitment to safety, all in one year, is an outstanding achievement and testament to the quality of the Caledonia technical team,” CEO Steve Curtis acclaims.

He says that now that the Central Shaft is complete, Caledonia will also focus on other areas of its growth strategy, as it continues to evaluate investment opportunities, with a vision of becoming a multi-asset gold producer.