Blanket wraps up shaft sinking

Caledonia Mining’s Blanket gold operation in southern Zimbabwe is progressing into the equipping phase after completing the shaft sinking at the new Central Shaft
Blanket wraps up shaft sinking Blanket wraps up shaft sinking Blanket wraps up shaft sinking Blanket wraps up shaft sinking Blanket wraps up shaft sinking

Caledonia said Blanket could produce 53,000-56,000oz this year

The Blanket operation, in which Caledonia holds a 49% interest, is expecting commissioning sometime in the September quarter of this year. At that time, it will begin to ramp up toward a goal of 80,000oz/y by 2022.

The Central Shaft measures 1,200m metres from the surface, and had been in construction since 2015. Caledonia confirmed it spent US$44 million to bring the project to completion.

The equipping phase for Blanket is expected to take about 12 months.

According to Caledonia's data, 2018 production from the mine was 54,511oz. It has estimated 2019 production to be 53,000-56,000oz.

Caledonia obtained its interest in Blanket in April 2006 from Kinross.