Caledonia Mining Corporation PLC has brought its new solar power plant at its Blanket mine in Zimbabwe on stream.
Blanket currently receives its power from ZESA, but in recent years, the electricity supply has not been reliable and this has both economic and safety implications for the underground mine.
Caledonia started constructing the 12.2 MWac solar plant late in 2021.
The solar plant is now operational, and in due course, it is expected that it will provide approximately 27% of Blanket’s average daily electricity demand. Mark Learmonth, chief executive of Caledonia, said:
<blockquote>
I am delighted that the solar plant is connected to the Blanket grid and from today Blanket will start to receive some of its energy directly from solar.
With 21 per cent of Blanket’s on-mine costs relating to energy usage, this solar plant is a very important project for the company as it will improve the quality and security of Blanket’s electricity supply and provide environmental benefits through cleaner energy.
The solar power will displace more expensive power from the grid and from the diesel generators and is expected to reduce Caledonia’s consolidated cost per ounce of gold produced by approximately US$37.
</blockquote>
| <a href="https://www.proactiveinvestors.com/companies/news/998222/caledonia-mining-brings-new-solar-power-generation-capability-on-stream-at-the-blanket-gold-mine-998222.html">Proactive</a>

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Caledonia Mining brings New Solar Power On Stream At Blanket Mine

Caledonia Mining Corporation chief executive officer, Steve Curtis (65), is set to step down from his role on 30 June 2022 and will take up a non-executive role by the end of 2022.
The company’s chief financial officer, Mark Learmonth, will take over from Curtis. The firm said in a statement:
<blockquote>
The company announces that Mr Steve Curtis, aged 65, has notified the board of directors of his intention to retire from his role as the chief executive officer with effect from June 30, 2022.
He will be succeeded as chief executive officer by Mark Learmonth, Caledonia’s chief financial officer.
Mr Curtis will continue to serve as a director of Caledonia, transitioning from an executive to a non-executive role by the end of 2022.
</blockquote>
Caledonia is the parent company of the Gwanda-based gold operation, Blanket Mine.
Commenting on the development, Caledonia chairman Leigh Wilson hailed Curtis for his contribution to the company. Said, Wilson:
<blockquote>
Under his calm and steady leadership since November 2014, Caledonia’s production has almost doubled and its market capitalisation has increased over four-fold.
… Under Steve’s stewardship, the strength and depth of Caledonia’s management team has increased so that it has the capacity to take on new projects.
In recent years, under Steve’s leadership, Caledonia has also improved its relevance to international capital markets, which has resulted in a substantial increase in Caledonia’s share price since 2014 and a significant increase in the liquidity of its shares which now trade on AIM, New York Stock Exchange and the Victoria Falls Stock Exchange in Zimbabwe.
… I am delighted that Steve will remain with Caledonia in a non-executive role and look forward to his invaluable guidance in the future, which I am certain will continue to be a major asset to the Company.
</blockquote>
<h4>More: <a href="https://www.chronicle.co.zw/caledonia-ceo-set-to-step-down/">Chronicle</a></h4>

Caledonia Mining Corporation CEO Set To Retire

Blanket Mine has introduced monthly and quarterly bonuses for its employees in a bid to boost morale and increase production.
In its management discussion and analysis of the consolidated operating and financial results for the quarter ended September 30, 2019, the subsidiary of the Caledonia Mining Corporation (Caledonia) said:
<blockquote>Employee morale has improved following the introduction of a new bonus structure at Blanket: production teams now receive a monthly or quarterly bonus (depending on the worker’s grade) which reflects the specific performance of their team and keeps the productive teams motivated during difficult periods.</blockquote>
The company used to award its employees production bonuses annually based on the performance of the entire mine.
The company noted that the improved morale contributed to improved daily production tonnage in the latter part of the quarter (third quarter of 2019), continuing into October and November (2019).
<h4>More: <a href="https://www.thestandard.co.zw/2020/01/05/blanket-mine-cushions-workers-inflation/" rel="noopener noreferrer" target="_blank">The Standard</a></h4>

Blanket Mine Introduces Monthly & Quarterly Bonuses For Workers

The <a href="http://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe</a> has assured gold miners that it will pay for gold deliveries using the United States Dollar and not the newly introduced <a href="http://www.pindula.co.zw/Zimbabwe_Bond_Notes" target="_blank">bond notes</a>.
Caledonia Mining Corp which operates a gold mining in Gwanda, in a statement, said:
<blockquote>Caledonia confirms that, following the recent introduction of ‘bond notes’ by the Reserve Bank of Zimbabwe, there is no change to the settlement system in place for Blanket Mine in Zimbabwe for its gold sales
Since January 2014, Blanket has sold all of is gold production to Fidelity Printers and Refineries Limited, which is a subsidiary of the RBZ. Blanket has received all sale proceeds within 48 hours of delivery to Fidelity in US dollars at a price which is 98.75 percent of the London afternoon ‘fix’ on the day after delivery to Fidelity.</blockquote>
More: <a href="http://source.co.zw/2016/12/rbz-assures-gold-miners-on-usd-payments-after-bond-note-launch/">The Source</a>

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