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Caledonia Mining definitely interested in more assets in Zimbabwe though no bids yet

Mark Learmonth, Caledonia Mining PLC’s (LON:CMCL) finance director, says it is interested in acquiring more assets in Zimbabwe, though it is premature to say it has bid for any.

The government is looking at disposing of dormant assets, but Learmonth says that if the prices are right there are plenty of privately-owned assets.

Caledonia is also keen to increase its stake in the Blanket mine from 64% currently now that indigenisation rules have been relaxed.

Grades have improved at Blanket in November, which bodes well for a strong end to year, he adds.

Quick facts: Caledonia Mining Corporation

Price: 565 GBX

AIM:CMCL
Market: AIM
Market Cap: £60.81 m
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Grade issues resolved at Blanket Mine says Caledonia Mining CFO Learmonth

Caledonia Mining PLC (LON:CMCL) expects to complete the sinking of its new central shaft at the Blanket mine in Zimbabwe within two weeks. That is despite electricity outages affecting the country and hampering progress said Mark Learmonth, Caledonia’s chief financial...

on 12/7/19

2 min read