16th Jul 2025 11:23
(Alliance News) - Caledonia Mining Corp PLC on Wednesday raised production guidance for the Blanket mine in Zimbabwe as it said the site has exceeded expectations in the year so far.
The Zimbabwe-focused gold miner said gold production in the three months that ended June 30 set a new record for a second quarter and was up 1.4% to 21,070 ounces from 20,773 ounces a year ago.
Gold production in the first half as a whole was 5.1% higher at 39,741 ounces from 37,823.
The company increased production guidance for the Blanket mine to between 75,500 and 79,500 ounces of gold. The previous guidance was for between 74,000 and 78,000 ounces.
"Production in the first half of 2025 was excellent and has exceeded our expectations. As a result of this strong performance, we are increasing our annual production guidance," said Chief Executive Officer Mark Learmonth.
"Blanket Mine continues to provide a solid foundation for growth. As we move forward, we are confident that it will continue to be a cornerstone of our success, driving value for our shareholders."
Shares in Caledonia Mining were up 4.3% at 1,590.00 pence in London on Wednesday morning.
By Michael Hennessey, Alliance News reporter
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