- Blanket Mine sets new Q2 production record with 21,070 ounces of gold
- Caledonia raises FY2025 production guidance to 75,500-79,500 ounces
- Caledonia's H1 gold production up by 5.1% reaching 39,741 ounces
Harare- Caledonia Mining Corporation, Zimbabwe's third largest gold producer, has seen a record-breaking second quarter for gold production in 2025, with output reaching 21,070 ounces (597.32 kg), surpassing the 20,773 ounces (589.11 kg) produced in Q2 2024, according to the company’s latest trading update.
This performance contributed to a first-half 2025 production of 39,741 ounces (1127.04 kg) , marking a 5.1% increase compared to the 37,823 ounces (1027.45 kg) produced in the first half of 2024.
As a result of this strong performance, Caledonia has revised its production guidance for Blanket Mine, its flagship operation, raising the target to 75,500–79,500 ounces (2140.4-2253.8) for 2025, up from the initial range of 74,000–78,000 ounces (2097.9-2211.3).
Blanket Mine, the second-largest gold-producing mine in the country, trails only behind Freda Rebecca, operated by Kuvimba Mining House, with Eureka Mine, owned by Padenga Holdings’ gold arm, Dallaglio Investments, ranking as the third largest.
Blanket Mine has established itself as a consistent producer, achieving 76,656 ounces of gold in the full year of 2024 (January–December).
Recent drilling results have highlighted significant resource expansion potential at Blanket, with high-grade zones identified in the Blanket, Eroica, and Lima orebodies, further strengthening its growth prospects.
Freda Rebecca, which accounts for 70% of Kuvimba Mining House’s gold output, remains the country’s top gold producer. In FY2023, the mine produced 2,280 kilograms of gold, but output dipped slightly by 2.2% in FY2024 to 2,229 kilograms.
However, production rebounded strongly in 2025, reaching 2,548 kilograms, reinforcing its leading position. Kuvimba’s ongoing commitment to Freda Rebecca includes a $38 million investment aimed at enhancing the mine’s output and sustaining its dominance in the sector.
Eureka Mine, part of Padenga Holdings’ portfolio through Dallaglio Investments, is another key player in the country’s gold industry. In FY2024, Eureka contributed 1.8 tonnes to Padenga’s total gold production of 2.740 tonnes.
To further boost output, Padenga has allocated $30 million in 2025, with the majority of funds directed toward Dallaglio Investments, particularly for Eureka and Pickstone Peerless. Padenga’s $30 million investment in 2025, primarily for Dallaglio’s Eureka and Pickstone operations, includes the Thickener Project for improved plant recovery and exploration drilling to inform a 2027 feasibility study, positioning Eureka for long-term growth.
This investment has supported higher grades and increased throughput, aligning with Padenga’s strategy to solidify its position as a leading gold producer in the region.
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