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Caledonia reports 25% gold production increase in Zimbabwe in third quarter

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(Kitco News) - Caledonia Mining today announced that in Q3 2021, gold production from its Blanket mine in Zimbabwe was 18,965 ounces, a new production record and an increase of 25% on the 15,155 ounces produced in the corresponding quarter of 2020.

Gold produced in the nine months to September 30, 2021 was 48,872 ounces, 14% more than the 42,887 ounces produced in the nine months to September 30, 2020.

The company said that production guidance for the year to December 31, 2021 has been narrowed at the top end of previous guidance at 65,000 and 67,000 ounces, and that it remains on track to achieve its production target of 80,000 ounces in 2022.

Commenting on the announcement, CEO Steve Curtis said, "I am delighted that this quarter we have once again set a new production record as Blanket begins to reap the rewards of the substantially increased production capacity following the commissioning of the Central Shaft in March 2021."

"The completion of Central Shaft and the resultant increase in production also means that we are able to execute other areas of our growth strategy such as the agreement to acquire Maligreen that we announced last month. This is an exciting time for the company and I look forward to continuing to update shareholders of our progress," he added.

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