Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) has maintained its 2026 production guidance after gold output from Zimbabwe’s Blanket Mine rose 18% quarter on quarter to 17,360 ounces.
The improvement from 14,767 ounces in the first quarter reflected better access to higher-grade mining areas. Average grades delivered to the plant increased to 2.88 grams per tonne during the quarter and reached 3.05g/t in July to date.
Caledonia reiterated full-year guidance of 72,000 to 76,500 ounces, with production expected to remain weighted towards the second half.
Second-quarter output was below last year’s record comparative, which benefited from exceptional grades.
Chief executive Mark Learmonth said measures to restore access to higher-grade ore were “gaining traction”, with grades now tracking at around 3g/t.
Further output growth is expected from a seven-day working week, which is adding roughly 200 tonnes of ore processing capacity per day, and an elution plant upgrade due to process stockpiled carbon from September.