Online Reporter
Sikhulekelani Moyo
Zimpapers Business Hub
Victoria Falls Stock Exchange (VFEX)-listed gold producer, Caledonia Mining Corporation, recorded a 26,4 percent production decline in the first quarter to March 31, 2026, weighed down by several issues, including equipment downtime.
In a statement, Caledonia reported quarterly gold production of 14 767 ounces, compared to 18 671 ounces produced in the first quarter of 2025.
The lower quarterly output was anticipated, reflecting mining sequence and expected equipment access constraints to higher-grade, higher volume areas.
Caledonia said equipment availability issues and challenging ground conditions also negatively affected production.
Caledonia’s chief executive officer, Mr Mark Learmonth, said gold production in the first quarter was below expectations, reflecting the lower grades mined during the quarter.
However, he said this is consistent with the weighted production guidance towards the second half of the year.
“Pleasingly, plant performance remained strong, with 202 217 tonnes milled and good operational availability across the processing circuit,” said Mr Learmonth.
“This is an important reflection of our continued investment in the future of the processing facility.
“The quarter also included several typical operating challenges associated with deep, mature mining assets, including sequencing considerations, equipment downtime and difficult ground conditions in certain areas.”
