- Output increased by 3%
- Cumulative nine months output surpassed 55 000 ounces
- Reaffirms FY guidance of up to 80 000 ounces
Harare- Caledonia Mining Corporation, one of the leading gold mining producers, has announced a quarterly gold production of 21,772 ounces in the third quarter of 2023, as stated in the company's latest trading update dated 11 October 2023.
This represents a 3% increase from the 21,120 ounces produced in the third quarter of 2022. The cumulative production for the first nine months of the year reached 55,244 ounces. Caledonia Mining Corporation reaffirms its full-year production guidance, which falls within the range of 75,000 to 80,000 ounces.
In a statement, Caledonia Mining Corporation's Chief Executive Officer, Mark Learmonth, expressed his satisfaction with the performance of Blanket Mine, stating, "I am pleased that Blanket is performing well and we have achieved a new record in quarterly production. I am optimistic about reaching our target of producing between 75,000 and 80,000 ounces of gold for the year 2023."
Furthermore, he emphasized that Blanket Mine remains a strong foundation for the company, serving as a platform for their other growth projects in Zimbabwe.
Over the past seven years, the company has made significant investments in Blanket Mine, including ongoing investments this year. One notable investment is the construction of a new tailings storage facility, which is expected to have a lifespan of at least 15 years based on the current production profile. This facility is crucial in supporting production well into the future.
A tailings facility, also known as a tailings storage facility or tailings dam, is a structure used in mining operations to store the waste materials or tailings generated during the extraction and processing of minerals. Tailings are the byproducts of the mining process, typically consisting of a mixture of water, fine particles, and chemicals used in the extraction and processing of minerals.
The primary purpose of a tailings facility is to safely contain and manage these waste materials. They are typically designed to minimize environmental impacts and ensure the long-term stability of the storage structure. This includes measures to prevent seepage of potentially harmful chemicals into groundwater, to manage any excess water in the tailings, and to provide for the eventual reclamation and closure of the facility once mining operations have ceased.
In terms of sustainability and energy efficiency, the company installed a 12 MW solar system. This solar system is capable of fulfilling approximately 27% of the company's electricity needs, reducing reliance on conventional energy sources and contributing to a more environmentally friendly operation.
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