CALEDONIA Mining Corporation, which holds a 49% stake in Blanket Mine, says it is targeting 48 000 ounces of gold in 2014 from its Gwanda operation.
Njabulo Ncube Deputy Editor
Announcing gold production figures from its Gwanda subsidiary yesterday, Caledonia said 11 417 ounces of gold were produced during the last quarter for 2013 to December, representing a 3,4% decrease on the gold produced in the last quarter of 2012 (11 821 ounces).
It revealed that gold production in the fourth quarter of 2013 was adversely affected by a three-day shutdown of the milling plant for essential maintenance and also by a lower realised head grade which, as previously advised, was returning towards the long-term mine average grade of 3,84 grammes per tonne.
Total 2013 gold production was 45 517 ounces, a 0,1% increase over the annual gold production in 2012 of 45 463 ounces and 3,4% higher than the production guidance of 44 000 ounces for 2013.
Targeted gold production for 2014 is 48 000 ounces.
Commenting on the production for the quarter and the whole of 2013, Stefan Hayden, Caledonia’s president and chief executive officer said: “I would like to congratulate the entire management and workforce at Blanket for another creditable performance in 2013. Production for 2013 was little changed from 2012 notwithstanding the fact that during 2013 the achieved head grade returned towards the normal life of mine average of 3,84 grammes per tonne, as previously advised.
Production for 2013 was 3,4% ahead of the targeted production level of 44 000 ounces.
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“The underground development that is required to achieve the projected increase in gold production to 48 000 ounces in 2014 has been completed and I look forward to Blanket delivering this increased level of production in 2014.”
Caledonia expects that its financial results for the quarter and year to December 31 2013 will be released on March 31 .
