Caledonia targeting higher output, lower costs at Zim mine

Southern Africa-focused gold miner Caledonia Mining Corporation aims to have its Blanket gold mine, in Zimbabwe, produce 60 000 oz of gold at all-in sustaining costs (AISCs) of between $810/oz and $850/oz this year, says corporate development VP and investor relations manager Maurice Mason. Blanket gold mine is the company’s primary asset in which it has a 49% interest. He notes that, in accordance with Zimbabwe’s indigenisation law, the mine has been 51%-owned by black Zimbabwean nationals since 2012, with the local community and mineworkers respectively having a 10% shareholder stake in the project.