Caledonia Mining Sticks to Gold Output Target Amid Cost Pressures

Caledonia Mining Corporation has maintained its 2026 production target for the Blanket gold mine after an 18% quarter-on-quarter output increase in Q2, producing 17,360 ounces with improved feed grades.

The company confirmed full-year production guidance of 72,000-76,500 ounces and expects further gains in H2.

Revenue rose 16% to $75.9 million, driven by a 34% higher gold price, while profit after tax increased 27% to $30 million.

However, Caledonia raised its 2026 cost guidance due to higher employee payments, royalties, and sustaining expenses, and cut group capital expenditure guidance due to delayed Bilboes spending.