Make Kitco Your Homepage

Caledonia Mining reports record Q1 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 today reported Q1 2022 gold production of 18,515 ounces at its Blanket mine in Zimbabwe, a record for any first quarter and a 40% increase over 13,197 ounces produced in Q1 2021.

The company also reiterated that its gold production for 2022 is expected to be between 73,000 to 80,000 ounces.

CEO Steve Curtis commented, "I am delighted that during this quarter we have set a new first quarter production record. 18,515 ounces is ahead of our expectations and reflects the increased capacity at Central Shaft.

"The ramp-up in production towards our quarterly target of 20,000 ounces means that we are on track to meet our annual production target.”

Caledonia Mining’s primary asset is the Blanket gold mine in Zimbabwe. By 2022 the company plans to increase its annual production to 80,000 ounces.

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.