Home Mining Caledonia To Become A Multi-Asset Gold Producer.

Caledonia To Become A Multi-Asset Gold Producer.

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Victoria Falls Stock Exchange (VFEX) listed company Caledonia is pushing its strategy of becoming a multi-asset gold producer in Zimbabwe, Great Dyke News 24 reports.

According to the Chief Executive Officer , Steve Curtis, the company is now focusing on de-risking the business from being a single asset producer.

“Now that the Central Shaft is complete the company can focus on other areas of its growth strategy, predominately de-risking the business from being a single asset producer,” he said.

He added that the company has declared a quarterly dividend of US$0.14 per share for the fourth quarter of 2021 representing a 104 percent increase from the level of $6. 875 cents since October 2019.

“Over the last 10 years Caledonia has built a strong reputation for delivering on its word and rewarding shareholders through growth and dividends.

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“In January 2020, we announced our first dividend increase and over the last two years we have more than doubled the dividend while always balancing the importance of returning money to shareholders and investing in the company’s growth.

“I am very excited with the opportunity that we have to evolve our business, with Blanket mine as the foundation of our growth,” he said.

Recently, the Minister of Mines and Mining Development Winston Chitando said the mining sector is on course to attain a government target of hauling minerals worth 12 billion U.S. dollars by 2023.

Under the 12 billion U.S. dollar mining roadmap, gold is expected to contribute 4 billion dollars, platinum 3 billion dollars, while chrome, iron, steel, diamonds and coal will contribute 1 billion dollars each.

This year, Caledonia is guiding for production of 73,000 ounces of gold from its Blanket mine in southern Zimbabwe.

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