Zimbabwe : Production surges 20% at Blanket mine
Tuesday, 12 July 2016 19:00
TSX-listed miner Caledonia Mining produced in Q2 2016, 12,509 oz of gold, up 20% from the same quarter the previous year. This output is also 16% higher than that in Q1 2016.
The firm also said it is on the right track to achieve its 50,000 oz goal for the year. It plans to gradually increase production throughout the rest of the year, eying 14,000 oz in its last quarter.
During Q1 2016, Caledonia produced 10,822 oz of gold, growing 8.7% compared to Q1 2015, 9,960 oz.
Caledonia Mining Corporation, which owns 49% of the Blanket gold project in Zimbabwe, announced it wishes to sell 15,000 oz of gold with a risk coverage of $1,050-$1,080 per ounce.
Louis-Nino Kansoun
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