Make Kitco Your Homepage

'Unprecedented' rainfall disrupts Caledonia Mining’s gold production in Zimbabwe

Kitco News

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - Caledonia Mining (NYSE American: CMCL; AIM: CMCL) announced today that the company produced 13,197 oz of gold at its Blanket mine in Zimbabwe in Q1 2021.

The company said that production in Q1 2021 was slightly below its target and below the comparable quarter in 2020 (14,233 oz) albeit at a level which allows Caledonia to maintain its 2021 production guidance of 61,000 to 67,000 ounces for the full year.

CEO Steve Curtis added, "Gold production has often been lower in the first quarter of each year and increases in the following quarters. The rainy season this year saw unprecedented rainfall causing flooding at the mine and resulted in several lost shifts during the period."

"These temporary issues have now been rectified and with the Central Shaft now operational we remain on track to hit our 80,000 ounce target in 2022," concluded Curtis.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.