CALEDONIA MINING CORPORATION DEEPENS COMMITMENT TO ZIMBABWE

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;

 

Before the signing, Caledonia Mining Corporation had invested in some new drill rigs for their Blanket Gold Mine in Zimbabwe. Which has currently produced in excess of 1 million ounces of gold. The company is also investing in a 12MW solar power project that will provide approximately 27% of the mine’s total electricity demand.

ABOUT  COMPANY

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

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