Blanket Q1 output on par with Caledonia’s 2018 target
JOHANNESBURG (miningweekly.com) – Southern Africa-focused exploration and development company Caledonia Mining’s 49%-owned Blanket mine, in Zimbabwe, produced about 12 924 oz of gold for the quarter ended March 31.
The Aim-, TSX- and NYSE-listed outfit on Monday said production is in line with expectations for this year, with the company maintaining its full-year production guidance of 55 000 oz to 59 000 oz.
Caledonia CEO Steve Curtis said production in the first quarter of this year is consistent with the level achieved in the corresponding quarter of 2017.
However, while production was in line with expectations, the mine’s safety performance during the quarter was disappointing, as a fatal accident occurred at the mine.
Meanwhile, the sinking of Blanket mine’s central shaft continues to progress according to plan and within budget, with the shaft currently at a depth of 990 m.
“We look forward to starting production from the central shaft in 2020, which is expected to deliver Caledonia’s growth plan to achieve 80 000 oz by 2021,” Curtis concluded.
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