LIVINGSTONE MARUFU
Resources outfit Caledonia Mining Corporation’s production rose 24% to 18 604 ounces in the quarter ended December 31 2021 from 15 012 ounces recorded during the same period in 2020 due to the utilisation of the US$60m Central Shaft project which pushed up output.
In a statement, Caledonia chief executive officer Steve Curtis said the London Stock Exchange listed miner’s total gold production during 2021 was 67,476 ounces, exceeding the company’s revised increased guidance and a 17% increase on 2020 annual production.
Curtis said the performance has been outstanding and the resources group was able “to exceed our revised annual production guidance”.
“The commissioning of the Central Shaft, record gold production, along with a continued commitment to safety, all in one year, is an outstanding achievement and testament to the quality of the Caledonia technical team,” Curtis said.
“Now that the Central Shaft is complete, the company will also focus on other areas of its growth strategy, as we continue to evaluate investment opportunities, with a vision of becoming a multi asset gold producer.”
The company has achieved more than 2,4m fatality free shifts since 2018.
Caledonia is bullish about the 80 000 ounces target by the year end despite missing out the target since 2019.
The inception of the Central Shaft project has boosted the miner’s confidence to reach the target.
“Gold production for 2022 is expected to be between 73,000 to 80,000 ounces,” Curtis said.
He said there is still some further underground development that is required before the miner can achieve full production of 80 000 oz in 2022.
Curtis said the miner needs to achieve a quarterly target of 20,000 ounces to meet the 80 000 ounces by year end.
