Caledonia Mining (LSE:CMCL) produced 17,360 ounces of gold from its Blanket Mine in Zimbabwe during the second quarter of 2026, representing an 18% increase compared with the first quarter. The improvement was driven by better access to higher-grade mining areas and an increase in average plant grades. Although production was below the record level achieved in the second quarter of 2025, the company reaffirmed its full-year production guidance of between 72,000 and 76,500 ounces, with output expected to be weighted towards the second half of the year.
Management said initiatives to improve access to higher-grade ore are delivering encouraging results, with mined grades now averaging around 3g/t. Production is forecast to strengthen further during the remainder of 2026, supported by improved mine development, the completion of an upgrade to the elution plant that will enable processing of stockpiled fine-grain loaded carbon, and the introduction of a seven-day operating schedule. The extended working week is expected to increase ore throughput by approximately 200 tonnes per day.
More about Caledonia Mining
Caledonia Mining Corporation Plc is a gold producer listed on the NYSE American, AIM and the Victoria Falls Stock Exchange. Its principal asset is the Blanket Mine in Zimbabwe, where the company focuses on underground gold mining and operational improvements designed to increase production efficiency and enhance ore grades.
The Blanket Mine remains the cornerstone of Caledonia’s business and plays an important role in Zimbabwe’s gold mining industry. The company continues to invest in processing upgrades, mine development and operational enhancements to improve throughput while maintaining consistent production and supporting long-term growth.
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