Sikhulekelani Moyo [email protected]
BLANKET Mine Limited, a subsidiary of Caledonia Mining Corporation Plc, has paid a further US$2,5 million dividend to the Gwanda Community Share Ownership Trust, bringing total distributions to the trust since 2012 to more than US$18,9 million.
The latest payment marks another milestone in a partnership designed to enable local communities to share in the economic benefits generated by mining operations.
Established to facilitate community participation in Blanket Mine’s economic success, the trust has received dividends through its shareholding in the mine over the past 14 years.
The arrangement provides a mechanism through which mining revenues can support development priorities identified by communities in Gwanda District.
The trust operates independently and is responsible for determining how the funds are allocated and used in line with its governance structures and development objectives.
Commenting on the distribution, Blanket Mine general manager Elton Gwatidzo said the company recognised the importance of maintaining strong relationships with communities around its operations.
“At Blanket Mine, we recognise that long-term success depends on building lasting relationships with the communities around us.
“The Gwanda Community Share Ownership Trust provides a framework through which local communities participate in the value created by our operations. This latest dividend reflects the continued strength of that partnership and our commitment to responsible mining practices.
“As Blanket Mine continues to invest in its future, we remain focused on creating sustainable value for all our stakeholders, including the communities that have supported our operations for many years,” he said.
The distribution forms part of Caledonia’s broader approach to responsible mining and stakeholder value-sharing.
Through the trust’s shareholding in Blanket Mine, communities have an opportunity to benefit from the economic returns generated by the operation, while the trust retains responsibility for determining how the funds are used to support local development priorities.
Caledonia views partnerships between mining companies and host communities as important to creating lasting economic and social benefits and supporting the long-term sustainability of mining investment in Zimbabwe.
