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Caledonia Mining Corp PLC on Wednesday said it expected gold production in 2024 to be similar to 2023, as output surged in the second quarter.
The Zimbabwe-focused gold producer said gold output at the Blanket mine in Zimbabwe jumped 19% to 20,773 ounces in the second quarter of 2024, from 17,436 oz a year prior.
In the first half of 2024, gold production was 13% higher at 37,823 oz from 33,472 oz.
Chief Executive Mark Learmonth said: ‘Blanket mine continues to provide a solid foundation for growth as we prepare to become a multi-asset gold producer.’
Caledonia Mining reiterated its 2024 gold output guidance of 74,000 to 78,000 oz, within its 2023 gold production of 75,416 oz.
Caledonia Mining shares rose 3.2% to 810.00 pence each on Wednesday morning in London.
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