Published: 22 October 2025

Jersey-based Caledonia Mining Corporation is on track to meet its 2025 gold production target after reporting a near 4% increase in output, producing 58,846 ounces in the nine months ended September 30, 2025.

The Zimbabwe-focused miner, which operates the Blanket Mine, Bilboes Mine, and the Motapa and Maligreen gold claims, had projected annual production of between 75,500 and 79,500 ounces. The strong performance is attributed to improved operational efficiencies and the strategic deployment of its US$41 million capital expenditure, supported by high global gold prices.

Quarterly production for the third quarter stood at 19,106 ounces, up from 18,992 ounces in the same period last year. "Gold produced in the nine months to the end of September was 58,846 ounces (2024: 56,815 ounces)," the company said, reiterating its full-year production guidance.

Caledonia CEO Mark Learmonth highlighted the solid operational performance at Blanket Mine. "We're pleased to report another quarter of solid performance at Blanket, building on the exceptional start to the year," he said.

The company, however, mourned a fatality at Blanket Mine in September due to a secondary blasting accident. Learmonth extended condolences to the family and colleagues of the deceased, emphasizing that worker safety remains the highest priority.

Looking ahead, Caledonia plans to shift focus from Blanket Mine to Bilboes Mine, expected to commence production within three years and emerge as the company's flagship operation. Blanket Mine still has an estimated 10 years of production life remaining, while Bilboes is projected to deliver an annual output of five tonnes once operational.

The strong performance and disciplined capital deployment at Blanket position Caledonia to build cash reserves of up to US$60 million by year-end, providing funds for future exploration and development projects.
- newsday

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