Caledonia Mining Sees Q2 Gold Production Surge

Caledonia Mining Corporation PLC reported a strong second quarter for 2026, driven by an 18% increase in gold production at its Blanket Mine. This improvement, from approximately 17,400 ounces, was primarily attributed to a rise in ore grade from 2.5 to nearly 2.9 grams per tonne, a direct result of sustained investment in mining operations and controls.

As of the second quarter of 2026, Caledonia Mining held approximately $172 million in gross cash. This healthy financial position stems from robust internal cash generation at Blanket Mine and more measured expenditure at the Bilboes Sulphide Project. The company anticipates further production gains in the second half of 2026, boosted by an upgraded elution circuit and processing through the Lima facility, reinforcing confidence in meeting its annual output targets.

Development continues on key growth projects, with the Bilboes Sulphide Project advancing discussions on funding, procurement, and infrastructure. The project maintains its target for a first gold pour in late 2028, with full production expected in 2029. Caledonia also announced an upcoming maiden resource estimate for Motapa and plans for trial mining and heap leaching at Blanket's K-Pits during the fourth quarter of 2026.