Caledonia acquires another exploration project in Zimbabwe
Gold miner Caledonia Mining Corporation, which operates its flagship Blanket mine, in Zimbabwe, has acquired Motapa Mining Company, whose subsidiary holds a mining lease over the Motapa gold exploration property, in southern Zimbabwe.
Caledonia bought Motapa Mining from privately owned UK company Bulaway Mining Company for an undisclosed amount.
“We are pleased to have concluded the purchase of Motapa. Given its large-scale, excellent geological prospectivity and its strategic location adjacent to Bilboes, Motapa was a high-priority acquisition for Caledonia. We look forward to developing an exploration programme for Motapa as we target a large-scale gold belt surrounding the Bilboes project," says Caledonia CEO Mark Learmonth.
The Motapa project is a large exploration property, which is contiguous to the Bilboes gold project, which Caledonia is also acquiring.
The Motapa project was formerly owned and explored by Anglo American Zimbabwe prior to its exit from the Zimbabwean gold sector in the late 1990s.
“With the central shaft at Blanket now fully operational and production targeting 80 000 oz/y of gold, wee anticipate that we will deploy the incremental cash flow arising from Blanket into our exciting exploration and project development portfolio in Zimbabwe.
“The acquisition of Motapa following the signing of a sale and purchase agreement to acquire Bilboes and the acquisition of Maligreen demonstrates that, over the last 12 months, Caledonia has established a pipeline of high-quality exploration and development projects. This is in addition to the potential for further growth at Blanket where we are optimistic about its exploration potential,” Learmonth comments.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...
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
