JOHANNESBURG (miningweekly.com) – Gold production at the Blanket mine, in Zimbabwe, increased by 4.7% quarter-on-quarter to 10 424 oz in the second quarter of 2015, 49% owner Caledonia Mining said on Monday.
This was, however, a 7.1% contraction on the 11 223 oz of gold produced in the three months to June 2014.
However, in an update to the market, the Aim- and TSX-listed company confirmed that it was on track to deliver its target of 42 000 oz of gold for the full 2015 year.
“It is anticipated that production will increase somewhat in the second half of 2015 following completion of the tramming loop on 22 Level in June, … [which] will increase the underground haulage capacity and allow for an increase in development activity,” explained CEO Steve Curtis.
The mine had also completed the sinking of the No 6 Winze shaft, which remained on track to start production in January 2016, while work had started on equipping it prior to the start of horizontal development toward the orebodies.
Further, Curtis noted that the mine had started the presink at the Central shaft, with shaft sinking set to resume once the shaft collar was concreted.
“We are confident that the revised investment plan, which was announced on November 3, 2014, will result in progressive increases in production from 2016 onwards when we expect to see the first production from below 750 m – initially from the No 6 Winze and subsequently from the Central shaft,” he added.
Caledonia expected to publish its results for the quarter to June 30, on August 13.