Caledonia Mining will invest US$41.8 million in 2025 to expand operations after Blanket Mine met its 2024 production target of 76,656 ounces of gold, slightly up from 75,416 ounces in 2023. Production for 2025 is projected at 73,500-77,500 ounces.
Of the capex, US$34.9 million will go to Blanket Mine, with US$5.8 million allocated to Bilboes and Motapa projects. The investments aim to modernize operations, enhance efficiency, and sustain profitability, funded through cash generation.
CEO Mark Learmonth highlighted that investment in Blanket Mine has nearly doubled production over seven years, extending its mine life to 2034. Caledonia is also advancing a feasibility study at Bilboes, with potential funding from a US$50 million share sale agreement with Cantor Fitzgerald & Co.
