11th Aug 2025 10:24
(Alliance News) - Caledonia Mining Corp PLC on Monday said its Blanket mine in Zimbabwe is on track to achieve gold production within its updated guidance range, as it posted an interim profit jump.
The Zimbabwe-focused gold miner said pretax profit jumped to USD34.9 million in the first half of 2025, from USD15.3 million a year ago.
Revenue climbed 30% to USD65.3 million from USD50.1 million.
Caledonia Mining declared a quarterly dividend of 14 US cents per share, unchanged from the first quarter.
Gold production at the Blanket mine was 21,070 ounces in the second quarter, up 1.4% from 20,773 oz a year ago.
The company said the Blanket mine is on track to achieve gold production within its updated guidance range of 75,500 to 79,500 ounces for 2025, similar to 76,656 oz in 2024.
Caledonia Mining added: "Work continues on the feasibility study for the Bilboes sulphide project, including the assessment of new factors that may enhance the project's economics. At Motapa, exploration efforts are progressing through a USD2.8 million programme focused on both oxide and sulphide resources."
Chief Executive Officer Mark Learmonth said: "Looking ahead, we remain focused on delivering our increased production guidance at Blanket, and advancing our growth pipeline in a way that maximises long-term value for shareholders. With a strong operational base and a clear strategic roadmap, Caledonia is well positioned to continue building on this positive momentum."
Caledonia Mining shares rose 1.5% to 1,751.00 pence each on Monday morning in London.
By Tom Budszus, Alliance News slot editor
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