Caledonia produces 9 960 oz in Q1
JOHANNESBURG (miningweekly.com) – Zimbabwe-focused gold miner Caledonia Mining’s 49%-owned Blanket mine produced 9 960 oz in the first quarter of the year.
Although output was 2.7% lower than in the first quarter of 2014, it was in line with expectations.
The Aim-listed company added that the mine’s $670/oz cash cost was also lower than expected, while all-in-sustaining costs, at $959/oz, were expected to fall as corporate administration costs and head office capital expenditure fell.
Caledonia sold 10 773 oz of gold in the quarter, including 813 oz brought forward from the preceding quarter.
"This is a very important year for Caledonia, as we start work in earnest on implementing the revised life-of-mine plan, which we presented to investors in November last year,” Caledonia president and CEO Steve Curtis said.
He added that the company, which recorded a net profit of $1.6-million, was currently sinking or deepening four shafts at its flagship mine, which would result in increases in production and earnings in the first quarter of 2016.
"We have sharpened our focus on reducing costs and we are streamlining our corporate structure by terminating dormant companies and noncore assets. Operationally, the management team is focused on implementing the revised plan,” Curtis said.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa
VISIT SHOWROOM
Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
