Online Reporter
Nqobile Bhebhe
Zimpapers Business Hub
VICTORIA Falls Stock Exchange-listed gold producer Caledonia Mining Corporation Plc has achieved a record second-quarter gold production, boosted by higher grades and improved plant recoveries.
Caledonia also noted that the sale of its solar plant in April strengthened its balance sheet and ensured a reliable, long-term renewable energy supply for Blanket Mine, supporting uninterrupted gold production.
In the three months to June 30, 2025, the group produced 21 070 ounces (oz) of gold, a 1,4 percent rise from 20 773 oz in the same period last year, driven by operational efficiencies at its flagship Blanket Mine in Gwanda.
“Caledonia has delivered another strong quarter, highlighted by record second-quarter gold production at Blanket and a substantial increase in profitability, reflecting strong operational performance and a higher gold price environment,” chief executive officer Mr Mark Learmonth said in a statement accompanying the results.
The mine’s annual production guidance for 2025 was revised upwards in July to between 75 500 oz and 79 500 oz from 74 000 oz-78 000 oz previously.
A record plant recovery rate of 94,4 percent up from 93,6 percent in 202, contributed approximately 175 additional ounces of gold in the quarter.
“The improved recovery was due to the introduction of an additional tank in the carbon-in-leach circuit, closer attention to dosage levels of reagents and improved process controls,” the company said.
Caledonia said the level was likely to be sustained in the absence of changes to ore feed grade or mineralogy.
Gold remains Zimbabwe’s largest foreign currency earner, providing the bulk of mineral export receipts and crucial liquidity to the economy.
Blanket Mine’s strong performance feeds directly into national gold reserves and supports the Reserve Bank of Zimbabwe’s foreign currency holdings, which are made up of precious minerals and foreign currency.
Zimbabwe is targeting 40 tonnes of gold in 2025, with both small-scale and large-scale miners contributing.
Official data shows total gold output surged to 11,6 tonnes in the second quarter from about 8,5 tonnes in the first, spurred largely by small-scale miners’ strong deliveries.
