BUSINESS REPORTER
VFEX-listed miner Caledonia says its quarterly gold output at Blanket was 40% up to 18,515 ounces, in the period ended March 31 after it ramp up production.
In the comparable quarter last year, output was 13,197 ounces.
The miner said gold production for 2022 was expected to be between 73,000 to 80,000 ounces.
CEO Steve Curtis said the 18,515 ounces is ahead of our expectations and reflects the increased capacity at Central Shaft.
“The ramp-up in production towards our quarterly target of 20,000 ounces means that we are on track to meet our annual production target,” Curtis said.
In the quarter under review, Caledonia recorded a fatal accident at Blanket.
Curtis said the miner “will always take the safety of our employees very seriously and I join my colleagues in expressing our sincere condolences to the family, friends and colleagues of the deceased”.
