Caledonia records 56 135 ounces of gold

HARARE - New York Stock Exchange-listed gold mining firm, Caledonia, recorded 56 135 ounces of gold last year, ahead of the 54 000 ounces target.

The Zimbabwe focused gold producer’s chief executive Steve Curtis said 2017 production represents a new annual production record for the Blanket Mine, an increase of 11,4 percent over the annual gold production in 2016.

“Full year production of 56 135 ounces for 2017 is a significant achievement especially when considering the relatively slow production we experienced in the first half of the year,” he said.

“To finish the second half of the year with two quarterly production records and the production of almost 31 000 ounces of gold in the six-month period is an achievement of which all of our technical and production staff should be justifiably proud and bodes well for the delivery of our expansion plans at Blanket as we continue to invest for the production of 80 000 ounces by 2021.”

Caledonia produced approximately 16 425 ounces of gold in the fourth quarter of last year a new quarterly production record for the mine.

Production in the fourth quarter was 14 percent higher than the previous quarter, which was itself a record production quarter, and 21 percent higher than the corresponding quarter of 2016.

Curtis indicated that the business remains steadfast in its commitment to the production of safe profitable gold and the initiatives introduced during 2017 to focus on the safe production of gold were adopted and fully supported by the Blanket mine work force.

“2017 was a pivotal year for Caledonia as we announced our plans to extend the current central shaft project deeper with the resulting extension in mine life at Blanket following the encouraging exploration results that were achieved during the year.

“This production achievement will set the business up well for 2018 as we target production of between 55 000 and 59 000 ounces of gold. I look forward to updating the market in due course,” Curtis added.


Comments (1)

How can a mine "record" so many ounces of gold ? Surely it should be the mine 'produced' so many ounces of gold - please do not try to over complicate words when simple ones will do the job

ace mukadota - 16 January 2018

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