adminCanadian mining firm Caledonia Mining Corporation — which owns the Blanket Gold Mine in Gwanda — says it is looking to expand its portfolio in Zimbabwe and is currently looking at a number of brownfield projects.
The Toronto Stock Exchange-listed firm currently holds a controlling stake in the Blanket Gold Mine. Caledonia vice president of corporate development and investor relations Maurice Mason said the group is not looking to acquire projects that are currently running.
Earlier this year Caledonia announced that it recorded 14,233 ounces of gold output at its Blanket Gold Mine in the first quarter of 2020, a 19 percent growth from 11,948 ounces produced in the relative period in 2019.
In 2019 the mining firm managed to produce 55,182 ounces of gold compared to 54,511 in the prior year, translating to a 1,23 percent growth in the year.
Mason describes Zimbabwe as one of the remaining “frontiers” for gold production in the region, adding that the opportunities in the country are immense.
“We believe we are operating in a very attractive frontier market for gold. We believe it’s not an exaggeration to say that Zimbabwe represents one of the last gold frontiers in Africa,” he said. — HBR
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