Emmerson Njanjamangezi, Group Features Editor 
CALEDONIA Mining has reported record production of 18 965 ounces of gold at Blanket Mine, for the quarter ended September 30, 2021.
The record gold haul pushed production at the mine during the nine months to 48 872 ounces, 14 percent higher compared to the 42 887 ounces produced during the same period in 2020.
Caledonia chief executive Steve Curtis
“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,” Caledonia chief executive, Steve Curtis said adding: “The ramp-up in production towards our quarterly target of 20 000 ounces has met our best estimate and, consequently, we have been able to narrow our annual production guidance from 61-67 000 ounces to 65-67 000 ounces.”
Curtis also said when Caledonia acquired Blanket from Kinross in 2006, the initial production in the third quarter of 2006 was 6 475 ounces.
“Central Shaft provides the infrastructure required to access the deeper resources at Blanket for many years before any new vertical shaft deepening needs to be considered. The extra hoisting capacity provided by the shaft is the foundation to the production build-up to 80 000 ounces from next year onwards.
“The … resultant increase in production also means that we are able to execute other areas of our growth strategy … This is an exciting time for the company and I look forward to continuing to update shareholders of our progress,” Curtis added.
Last week, Caledonia declared an increased quarterly dividend of $0,14, an eight percent increase from the previous quarterly dividend of $0,13 paid in July. This is the seventh increase in the quarterly dividend since October 2019. The company only has the Gwanda-based Blanket Mine in its portfolio, but it has been actively pursuing expansion plans to grow into a multi-asset operator.
Last week, the miner announced it had entered into an agreement to purchase mining claims over the Maligreen project, which is situated in the Gweru mining district, from Pan African Mining, a privately-owned Zimbabwean company, for a total cash consideration of US$4 million. newsdesk@fingaz.co.zw
