LONDON – Caledonia Mining Corporation Thursday said gold production at its 49%-owned Blanket Mine in Matabeleland increased slightly over the recent full year, despite operational maintenance operations during the fourth quarter of 2013.
The exploration and development mining company with operations in Zimbabwe and Zambia said its total gold production for 2013 was 45,517 ounces, a 0.1% increase on the previous year and 3.4% higher than the company’s previous production guidance of 44,000 for the full year.
However, only 11,417 ounces of gold were produced during the fourth quarter of the year, which represents a 3.4% decrease on the gold production in the fourth quarter 2012, as production was hurt by a three-day shut down of milling-plant operations for essential maintenance and a fall in the realised head grade, which is returning towards its long-term mine average grade of 3.84 grammes per tonne.
The company said its targeted gold production for 2014 at the Blanket Mine is 48,000 ounce.
– Alliance News
