Caledonia Mining’s Blanket mine in Zimbabwe has achieved a new production record. The mine produced 18,671 ounces of gold in the first quarter of this year.
This surpasses the 17,050 ounces produced in the same period last year. Caledonia blanket mine also exceeds the previous first-quarter record of 18,515 ounces in 2022.
Strong Operational Performance Drives Record Output
The tonnes milled for the quarter reached 201,755 tonnes. This figure is 13.4% above expectations. The surface stockpile of ore increased to 15,000 tonnes.
This is because run-of-mine production exceeded milling capacity. Blanket mine is still on track to meet its 2025 gold production guidance. The guidance is between 74,000 and 78,000 ounces.
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CEO Mark Learmonth expressed his satisfaction with the results. He noted that the first quarter is usually the weakest for the company.
“This achievement reflects continued operational improvements,” he stated. He also credited “the dedication of our team on the ground.” Learmonth highlighted the increase in tonnes milled and the surface stockpile. He said these “provide a strong foundation for the remainder of the year.”
Learmonth further commented on the company’s position. “This is an excellent start,” he said. He added that “with a strong gold price, we are well positioned.” The company aims “to generate healthy cash flows and to continue investing in our growth projects.”