Caledonia Mining Sets New Q1 Gold Production Record

Nqobile Bhebhe, Senior Business Reporter

Caledonia Mining Corporation has set a new first-quarter gold production record, delivering 18 671 ounces of gold in Q1 2025—an impressive increase from the 17 050 ounces produced during the same period in 2024.

This marks the highest gold output for a first quarter in the company’s history, surpassing the previous Q1 record of 18 515 ounces achieved in 2022.

The company noted that this performance is particularly significant as the first quarter is traditionally its weakest in terms of production.

In a production update released Tuesday, Caledonia Mining CEO Mr Mark Learmonth said “I’m delighted to report that production in Q1 2025 has set a new record for production in a first quarter at Blanket, with over 18,500 ounces produced—a particularly strong performance given that the first quarter is traditionally our weakest.”

Mr Learmonth attributed the achievement to sustained operational improvements and the commitment of the company’s workforce.

“This achievement reflects continued operational improvements and the dedication of our team on the ground. The significant increase in both tonnes milled and the surface stockpile provide a strong foundation for the remainder of the year.”

He added that the strong gold price environment further enhances the company’s outlook.

“This is an excellent start, and with a strong gold price we are well positioned to generate healthy cash flows and to continue investing in our growth projects.”

According to the update, a total of 201 755 tonnes were milled during the quarter, 13.4 percent above expectations.

Additionally, the surface stockpile rose significantly to around 15 000 tonnes, as run-of-mine production outpaced the plant’s milling capacity.

Caledonia reaffirmed that its Blanket Mine remains on track to meet its 2025 annual gold production guidance of between 74 000 and 78 000 ounces.