Caledonia Mining CEO Reports Improving Grades and H2 Gold Production Growth
Caledonia Mining Corporation PLC CEO Mark Learmonth provided an encouraging production update from the Blanket Mine in Zimbabwe. Gold output rose to 17,360 ounces in Q2 2026, an 18% increase from 14,767 ounces in Q1, driven by restored access to higher-grade mining areas. Grades have improved steadily since January, averaging 2.88 grams per tonne in Q2 and tracking at around 3.05 g/t in July, a level expected to hold for the rest of the year. Full-year guidance of 72,000 to 76,500 ounces remains firmly in place, with production weighted toward the second half. Three factors underpin confidence: improving access to higher-grade ore, completion of an elution plant upgrade from September to process stockpiled fine-grain loaded carbon, and additional ore processing capacity from a seven-day working week introduced in June. Learmonth stated the measures are 'gaining traction' and the company remains confident in hitting its full-year target.
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