Caledonia Mining Corporation

Caledonia Mining Corporation

About Us

Caledonia is an exploration, development and mining company focused on Southern Africa. Caledonia's primary asset is a 49% interest in the Blanket Mine in Zimbabwe which produced over 45,000 ounces of gold in 2012 at a cash cost of US$771/oz.

The Blanket gold mine re-started production in April 2009 after a temporary shut-down due to the economic difficulties in Zimbabwe. In late 2010, Blanket successfully completed an expansion project which increased production capacity from 24,000 ounces of gold per annum to 40,000 ounces of gold per annum.

As an indigenised entity, Blanket can implement its long term growth strategy. The recently re-constituted Blanket board, which includes representatives of the Indigenous Zimbabwean shareholders, approved a capital investment programme for 2013 and a 4 year growth strategy for 2014 to 2017. This investment programme, which was endorsed by the Caledonia Board, is estimated at US$37 million, will be funded from Blanket's internally generated cash, and is expected to result in progressive increases in gold production to approximately 76,000 ounces.

Blanket is engaged in the exploration of the down-dip extensions of the known ore bodies and the first five out of a total of 18 satellite exploration projects which are within trucking distance of the Blanket metallurgical recovery plant. Depending on the outcome of exploration and feasibility studies, Blanket may increase production above the targeted production of 76,000 ounces.

Blanket's metallurgical plant has substantial surplus capacity. Increased production arising from increased mining throughput could therefore be processed with moderate capital investment and incurring only consumable costs to treat any increased throughput.

Caledonia has a strong, experienced management team and Board of Directors with diverse expertise in gold production, exploration, mine development, finance and marketing. Caledonia's management team is based in Johannesburg, South Africa.

Caledonia paid its initial dividend in February 2012. On April 4, 2013 Caledonia announced an annual dividend in respect of the year to December 31, 2012. On November 25, 2013 Caledonia announced that in 2014 it intends to pay an annual aggregate dividend of 6 Canadian cents per common share, payable on a quarterly basis. The first quarterly dividend of 1.5 Canadian cents per common share is expected to be declared in January 2014. The Caledonia Board will continue to review dividends which will depend on the performance of the company and its capital investment requirements.
Share Price

TSX: 1.12 (CAD$)
AIM: 58.00 (Pence)

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Caledonia Mining Corporation trades on: the TSX (Symbol : CAL), and on the AIM Market of the LSE (Symbol : CMCL), and on the NASDAQ-OTCBB (Symbol: CALVF)

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Q2 2014 Production Update and Revised 2014 Guidance

Press Release


Caledonia Declares Third Quarterly Dividend

Press Release


Presentation to the Richmond Club



Election of Directors and Results of the Annual Special Meeting

Press Release