28th Jan 2014 08:19
LONDON (Alliance News) - Caledonia Mining Corp Tuesday said that all the gold produced at the Blanket mine in Zimbabwe will now be sold to state-owned Fidelity Printers and Refiners Ltd, the company now responsible for all final refining and marketing of gold produced in the country.
Caledonia said the terms of the deal with Fidelity means the Blanket mine will get 98.5% of the value of the gold it passes to Fidelity within a maximum of seven days of the sale taking place.
It has Tuesday sold Fidelity gold with a value of more than USD3.8 million and expects to get the proceeds Wednesday.
Caledonia Corp owns 49% of the mine.
Its shares last traded at 46 pence.
By Steve McGrath; [email protected]; @SteveMcGrath1
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