CALEDONIA Mining has reaffirmed its commitment to modernising operations at Blanket Mine while maintaining a strong focus on safety, as higher gold prices continue to support the company’s performance.
Chief Executive Officer Mark Learmonth said the group delivered solid operational and financial results during the quarter, producing 19,106 ounces of gold at the Zimbabwe-based mine.
“We continue to deliver solid operational and financial results at Blanket, producing 19,106 ounces of gold during the quarter and maintaining our focus on stable production and disciplined capital investment as we seek to modernise operations and improve mining efficiency at Blanket,” Learmonth said.
However, the company reported a fatal accident during the period, a development Learmonth described as deeply regrettable.
“It is with deep regret that we reported a fatality during the period. The safety and wellbeing of our workforce remain our highest priority,” he said.
Learmonth said Caledonia has activated enhanced safety measures and launched a comprehensive review of its procedures and training programmes.
“We have initiated a comprehensive review of our safety procedures and training, and we are committed to ensuring that such a tragedy does not occur again,” he said.
The company’s modernisation strategy, he added, is aimed at improving efficiency, reducing costs and strengthening productivity at Blanket Mine.
Caledonia is also positioning itself to benefit from higher gold prices, which have provided renewed momentum for the sector.
“The strong gold price environment, which increased 40% to average $3,434 per ounce, combined with higher production has resulted in a 52% increase in quarterly revenue and a significant uplift in free cash flow,” Learmonth said.
He said the company remains focused on disciplined investment, safety and innovation to support long-term growth.
“We remain focused on delivering value for all stakeholders, making strategic investments across the business to strengthen our foundations for the future and to sustain long-term growth,” Learmonth said.
