Chronicle Editor
Nqobile Bhebhe, Senior Business Reporter
THE Victoria Falls Stock Exchange-listed gold mining company — Caledonia Mining Corporation has set end of June as the completion date for its $14 million solar power project at Blanket Mine.
The 12MW solar plant is expected to provide 27 percent of the mine’s electricity requirements.
“The 12MW solar plant should be operational by the end of June and will provide 27 percent of Blanket Mine’s electricity demand” the mine said.
The mining company said it has spent US$14 million on the solar project which will drastically reduce its power costs.
“The cost of the project is about $14 million and the power plant will provide about 27 percent of Blanket Mine’s total electricity demand,” it said.
In 2020, Caledonia announced that the solar project was part of efforts to address electricity constraints that have over the years affected the mining industry.
The project is in line with the Government’s strategy to boost power production.
This week Blanket Mine announced a record 40 percent increase in quarterly production of 18 515 ounces in the first quarter up from 13 197 ounces produced in the corresponding period last year.
This is a new first quarter production record.
In October 2019, President Mnangagwa launched the US$12 billion mining industry strategic roadmap.
The mining sector is critical in generating foreign currency, contributing about 70 percent of the forex earnings, largely driven by gold, platinum and diamond.
— @nqobilebhebhe
Online Reporter