Photo by: Bloomberg
JOHANNESBURG (miningweekly.com) – Production at TSX- and Aim-listed gold producer Caledonia Mining’s 49%-owned Blanket mine, in Zimbabwe, declined by 3.4% year-on-year in the three months ended December 31.
Production for the quarter amounted to 11 417 oz, compared with 11 821 oz in the fourth quarter of 2012, the decrease mostly owing to a three-day shutdown of the mine’s milling plant along with a lower realised head grade, which was returning towards the long-term mine average of 3.84 g/t.
Total 2013 gold production was 45 517 oz, up 0.1% from the 45 463 oz produced in the prior year, and 3.4% higher than the production guidance of 44 000 oz.
“Production for 2013 was little changed from 2012, notwithstanding the fact that, during 2013, the achieved head grade returned towards the normal life-of-mine average of 3.84 g/t, as previously advised,” Caledonia president and CEO Stefan Hayden said, congratulating Blanket’s management and workforce for “another creditable performance”.
He added that the underground development that was required to achieve the projected increase in gold production to 48 000 oz in 2014 had been completed.
“I look forward to Blanket delivering this increased level of production,” he said.
Caledonia expected to release its financial results for the quarter and year to December 31 on March 31.