An improvement in electricity supply in the quarter ending December 31, 2019 has seen Caledonia Mining Corporation Plc recording 24 percent growth in gold production at its Blanket Mine.
According to the company, approximately 16,876 ounces of gold were produced during the quarter, exceeding the previous production record of 16,425 ounces set in the final quarter of 2017.
Total gold production during 2019 was approximately 55,182 ounces, ahead of revised production guidance of 50,000 – 53,000 ounces.
Caledonia anticipates that gold production for 2020 to be between 53,000 and 56,000 ounces.
Speaking on the record results, Caledonia Chief Executive Officer, Steve Curtis said improved electricity supply made the record and vigilant focus on grade control made the record production possible.
“I am delighted to report a production record at Blanket of 16,867 ounces in the fourth quarter. An improvement in the electricity supply and vigilant focus on grade control and production tonnage have resulted in an excellent production result for the final quarter of which our entire operational staff can be justifiably proud,” he said.
Curtis also added that there were no compromises on safety in the operational turnaround period.
“The impressive operational turnaround was achieved without any compromises on safety. This is a commendable achievement given the distractions posed by the challenging conditions experienced by our workers due to the economic environment in Zimbabwe. I join with my fellow directors in expressing our gratitude and congratulations to all Blanket staff on the delivery of safe, profitable gold production,” he added.
Blanket Mine plans to increase production from 55,182 ounces of gold in 2019 to 75,000 ounces in 2021 and 80,000 ounces in 2022.
