HARARE – Gold output at Blanket Mine decreased 13 percent during the first quarter of this year, compared to the same period in 2022, Caledonia Mining Corporation said Monday.
According to Caledonia, the parent company of Blanket Mine, 16,036 ounces of the yellow metal was produced in the first quarter of 2023, compared to the 18,515 ounces last year.
Caledonia attributed the decline in production to various reasons, among them recurrent mechanical breakdowns at the mine.
“Gold production at Blanket is usually lower in the first quarter of each year and increases in the following quarters,” said Caledonia chief executive officer Mark Learmonth.
“This trend is in evidence this year, albeit production in the first quarter of 2023 was below our targets due to a series of issues including equipment failures and logistical issues.
“These issues have been resolved and production to date in April has been higher than expected.”
Caledonia, which finalised the acquisition of Bilboes Gold Limited in January this year, said 105 ounces of gold was produced at the mine in the first quarter.
Learmonth said gold produced at Bilboes was from oxides.
“The small-scale low-margin oxide operation at Bilboes is effectively a pre-stripping exercise for the larger sulphide project in respect of which we have commenced work on an updated feasibility study.
“The oxide project was adversely affected by the breakdown of contractor-provided drill rigs which are used for evaluation drilling and the limited availability in Zimbabwe of spare parts or alternative equipment.”
Blanket Mine has set a target of 75,000 to 80,000 ounces of gold for 2023.
The gold miner is located in the south-west of Zimbabwe, approximately 15 km west of Gwanda, the provincial capital of Matabeleland South.
