Modern Mining May 2022

Record Q1 Production at Blanket Mine

Completion of sale of Arcadia project

“I am delighted that during this quarter we have set a new first quarter produc tion record. 18,515 ounces is ahead of our expectations and reflects the increased capacity at Central Shaft. The ramp-up in production towards our quarterly target of 20,000 ounces means we are on track to meet our annual production target.” 

Caledonia Mining has announced record gold production of 18,515 ounces from the Blanket Mine in Zimbabwe for the quarter ended 31 March 2022. The com pany expects gold production for 2022 to be between 73,000 and 80,000 ounces. Commenting on the announcement, Steve Curtis, CEO, said:

Prospect Resources has advised that the sale of the Prospect group’s 87% interest in the Arcadia Lithium Project to a subsid iary of new energy l ithium-ion battery material producer, Zhe j i ang Huayou

Prospect’s MD Sam Hosack.

Cobalt (Huayou), was completed on 20 April 2022. The transaction was for a cash consid eration of some $377.8-million. Prospect’s managing director, Sam Hosack commented: “We are extremely delighted to have successfully completed the transaction with Huayou. I would like to take this oppor tunity to express a sincere thanks to the Government of Zimbabwe. Without its strong support and vision, we simply would not have been able to complete this transaction, con firming indeed, that Zimbabwe is open for business and is a premier jurisdiction for the burgeoning lithium industry.” 

Blanket Mine.

May 2022  MODERN MINING  7