CALEDONIA Mining is showing how to take full advantage of firmer gold prices, reporting a strong first quarter of 2025 as it ramped up production and strengthened its balance sheet.
The company, which operates the Blanket Mine in Gwanda and is developing the Bilboes project, posted revenue of US$56.2 million for the quarter, up 46% from the same period in 2024.
Gross profit nearly doubled to US$26.9 million. Net profit attributable to shareholders surged to US$8.9 million, a 493% increase from the US$1.5 million recorded in Q1 2024.