{"id":23033,"date":"2026-01-14T14:18:07","date_gmt":"2026-01-14T14:18:07","guid":{"rendered":"https:\/\/www.europesays.com\/africa\/23033\/"},"modified":"2026-01-14T14:18:07","modified_gmt":"2026-01-14T14:18:07","slug":"caledonia-plans-to-spend-132-million-on-zimbabwes-biggest-gold-mine-this-year-2","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/africa\/23033\/","title":{"rendered":"Caledonia plans to spend $132 million on Zimbabwe’s biggest gold mine this year"},"content":{"rendered":"

HARARE, Jan 14 (Reuters) – Caledonia Mining Corporation (CALq.L), opens new tab<\/a>, plans to spend $132 million this year to launch development of what, once operational, will be Zimbabwe’s largest gold mine, the company announced on Wednesday.Miners are riding a wave of record bullion prices to expand output. Spot gold prices hit another record high<\/a> of $4,639.48 an ounce early on Wednesday, fuelled by escalating tensions in Iran, concern over the Federal Reserve’s autonomy and softer inflation readings that boosted rate cut bets.<\/p>\n

Sign up here.<\/a><\/p>\n

Caledonia said in a production update that the planned spending, part of a $162.5 million total capital expenditure programme for 2026, was subject to board approval and availability of funding.<\/p>\n

Caledonia, which already operates the 80,000-ounce-per-year Blanket mine in Zimbabwe, plans to develop the Bilboes mine at a projected total capital cost of $584 million.<\/p>\n

Production from the new mine is expected to begin in late 2028, with steady-state annual output of 200,000 ounces anticipated from 2029 for an initial period of 10 years.<\/p>\n

The company has said it plans to fund the Bilboes project through a mix of non-recourse senior debt, contributions from existing operations as well as specialised financing methods such as streaming, where investors provide cash in return for future metal supply.<\/p>\n

Caledonia’s expansion plans received a boost last month when Zimbabwe’s government reversed plans to double the gold royalty rate<\/a> and change the tax treatment for capital expenditure.<\/p>\n

Reporting by Chris Takudzwa Muronzi; Editing by Nelson Banya and Joe Bavier<\/p>\n

Our Standards: The Thomson Reuters Trust Principles., opens new tab<\/a><\/p>\n

Purchase Licensing Rights<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"HARARE, Jan 14 (Reuters) – Caledonia Mining Corporation (CALq.L), opens new tab, plans to spend $132 million this…\n","protected":false},"author":2,"featured_media":23034,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60],"tags":[488,685,686,1877,2534,1762,1597,4019,1783,698,710,703,702,707,701,709,704,708,715,1787,1784,1788,1782,699,711,6610,492,491,493,1397,714,1395,690,691,2525,2526,2527,2535,1881,1882,1883,2528,695,2529,14201,2530,2531,1777,1766,1778,2524,1396,11568,106,2533],"class_list":{"0":"post-23033","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-zimbabwe","8":"tag-afr","9":"tag-bact","10":"tag-biz","11":"tag-bmat","12":"tag-chisl","13":"tag-cmpny","14":"tag-com","15":"tag-cprod","16":"tag-destabn","17":"tag-destabx","18":"tag-destafn","19":"tag-destbnx","20":"tag-destc","21":"tag-destdnp","22":"tag-deste","23":"tag-destfun","24":"tag-destgro","25":"tag-destmtl","26":"tag-destozabsm","27":"tag-destpco","28":"tag-destpsc","29":"tag-destrbn","30":"tag-destrnp","31":"tag-destsof","32":"tag-destucdptest","33":"tag-destuki","34":"tag-eafr","35":"tag-emea","36":"tag-emrg","37":"tag-europ","38":"tag-fin","39":"tag-gb","40":"tag-gen","41":"tag-gfin","42":"tag-gldmin","43":"tag-gol","44":"tag-golm","45":"tag-je","46":"tag-metl","47":"tag-min","48":"tag-mine","49":"tag-mtal","50":"tag-pol","51":"tag-prec","52":"tag-prec08","53":"tag-precal","54":"tag-premtl","55":"tag-privt","56":"tag-publ","57":"tag-pxp","58":"tag-topicmarkets-commodities-metals","59":"tag-weu","60":"tag-xpand","61":"tag-zimbabwe","62":"tag-zw"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/posts\/23033","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/comments?post=23033"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/posts\/23033\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/media\/23034"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/media?parent=23033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/categories?post=23033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/tags?post=23033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}