BLANKET MINE TO INCREASE PRODUCTION
Written by Panashe Madzinga on April 23, 2018
Caledonia Mining Corporation which owns Blanket Mine near Gwanda in Matabeleland South plans to invest about $4 million over the next 18 months to boost output to 80 000 ounces at the gold mine.
The gold mine reported 16,425 ounces of gold produced in the last quarter of 2017, which was a record for Caledonia.
Total 2017 gold production was approximately 56,135 ounces, marginally ahead of the previously announced production guidance of between 54,000 – 56,000 ounces, while target production for 2018 is between 55,000 and 59,000 ounces.
The company is also reportedly negotiating the possibility of buying the government’s 16 per cent stake in the gold mine.