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Blanket Mine Posts Record Gold Production In 2020

Caledonia Mining Corporation has recorded an unprecedented total of 57,899 ounces of gold production at its Blanket Mine in the year ended 31 December 2020.

This is despite setbacks caused by the COVID-19 pandemic which saw Zimbabwe effecting a total lockdown to try and curb the spread of the disease.

Speaking on the announcement, Caledonia CEO Steve Curtis expressed delight over the results while indicating projects earmarked to help Blanket Mine to hit between 61,000 – 67,000 ounces in 2021.

“I am delighted by Blanket Mine’s continued strong operating performance in the Quarter and that we were able to hit the top end of our revised annual production guidance.

“Despite the challenges of the Covid-19 pandemic, 2020 was a record year for Caledonia operationally, and we are on track for commissioning of Central Shaft to be completed in the first quarter of 2021. In December we also announced that we had entered into option agreements on two properties in Zimbabwe, delivering on our strategy of organic growth, while increasing the dividend
for the fourth time at the start of January to 11 cents a share, creating genuine value and returns for our shareholders,” Curtis said.

Meanwhile, in the quarter ended 31 December 2020, Blanket mine produced 15,012 ounces of gold.

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