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Home » Caledonia rewards exec for Blanket Mine exploits

Caledonia rewards exec for Blanket Mine exploits

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CALEDONIA Mining Corporation (Caledonia), which has been rewarding top executives for increased production across the group this year, has appointed Dana Roets to the board in recognition of his role in the successful implementation of the Central Shaft project at its flagship Gwanda-based Blanket Mine.
Earlier this year, Caledonia announced the transfer of a total of 76 530 common shares to outgoing chief executive Steve Curtis and director and chief financial officer Mark Learmonth following the maturing of long-term incentive plan awards, which were made under the 2015 Omnibus Equity Incentive Compensation Plan of the company.

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Steve Curtis, outgoing chief executive

The Victoria Falls Stock Exchange (VFEX) listed miner said Roets has been the chief operating officer at Caledonia since 2013 and will continue in this role following his appointment to the board.

“He is a highly respected professional engineer with a long track record in the mining industry. His contribution to Caledonia as chief operating officer over the last nine years has been outstanding ― in particular, his contribution to the successful implementation of the Central Shaft project at Blanket Mine. Dana was responsible for this project from its initial design stage in late 2014 to its commissioning in March 2021,” Caledonia chairman Leigh Wilson said in a statement this week.

“Over this period, Blanket’s production increased by over 60 percent from less than 42 000 ounces of gold in 2014 to over 67 000 ounces of gold in 2021. Following the successful completion of the Central Shaft, we anticipate production at Blanket Mine increasing further to approximately 80 000 ounces of gold per annum from 2022 onwards.”

Under Roets’s leadership, Wilson said Caledonia’s technical team has been substantially strengthened “which puts us in a good position to embark on new projects which I expect will be an integral part in achieving the board’s strategic vision for the company to become a multi-asset gold producer,” he added.

Last week, Caledonia reported that total gold production at Blanket Mine reached a record 67 476 ounces in 2021.
This was an increase of 17 percent on the 2020 annual production and exceeded the company’s revised projections for the year.

In a trading update for the quarter ended December 31, 2021, Caledonia said Blanket achieved quarterly production of 18 604 ounces of gold, a 24 percent increase on the 15 012 ounces produced in the fourth quarter of 2020.
newsdesk@fingaz.co.zw

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