JOHANNESBURG (miningweekly.com) – Canadian gold miner Caledonia Mining has reduced its full-year production target to between 52 000 oz and 57 000 oz of gold, from the previously targeted 60 000 oz.
The company’s Blanket mine, in Zimbabwe, produced 12 522 oz of gold in the quarter ended June 30, compared with the 12 510 oz produced in the second quarter of the previous year.
This brought production for the six months to June 30, to 25 316 oz, up 8.5% on the 23 322 oz produced in the first half of 2016.
“Although we have improved the infrastructure on 750 m level in recent years, we are still constrained in our ability to move increased quantities of ore and development waste.
“Accordingly, in quarter two, Caledonia took the decision to safeguard the long-term production target of 80 000 oz in 2021 by prioritising capital development tonnage over ore production tonnage. This resulted in the 2017 production target being reduced,” said CEO Steve Curtis.
He added that the infrastructure constraints at the mine should be alleviated when the new Central Shaft is commissioned in the second half of next year.