Despite the currency crisis and input shortages in Zimbabwe, Caledonia Mining Corporation is signing an MOU agreement to further deepen their investment in the country. In May, Caledonia said it could use some of the extra cash to acquire small brownfield operations in Zimbabwe, as part of a growth strategy beyond the shaft deepening project. President tweeted;
I was delighted to officiate today at the formal signing of the partnership between the Government of Zimbabwe and Caledonia Mining Corporation, who produced close to 500kg of gold last year alone.
Zimbabwe is open for business 🇿🇼 pic.twitter.com/3xYNVFW6tk
— President of Zimbabwe (@edmnangagwa) October 5, 2020
Delighted to have signed an MOU yesterday with the Government of Zimbabwe to review potential investment opportunities & highlights the longstanding commitment that we have to #Zimbabwe pic.twitter.com/eBnqKlFNJH
— Caledonia Mining Plc (@CaledoniaMining) October 6, 2020
Caledonia Mining Corporation Plc primarily engages in the operation of a gold mine. The company also explores for and develops mineral properties for precious metals; and silver. It primarily holds a 64% interest in the Blanket Mine, a gold mine located in Zimbabwe.
SOURCE: Yahoo Finance;