Caledonia 2025 profit nearly triples on higher gold prices
23/03/2026 07:26
JOHANNESBURG, March 23 (Reuters) - Zimbabwe-focused Caledonia Mining CALq.L on Monday reported a near tripling of its 2025 full-year profit after tax, driven by higher gold prices and robust sales volumes. Profit after tax surged 193% to $67.5 million, from $23.1 million in 2024. Caledonia produced 76,213 ounces of gold at its 80,000-ounce-per-year Blanket mine. "Production in the second half of the year was affected by lower tonnages from higher grade areas, which are being addressed through ongoing mine development," the company said, adding that prolonged electricity supply interruptions toward year-end also weighed on output. "These impacts were partially offset by robust milling throughput and the draw-down of material from the ore stockpile, which helped to maintain overall production levels," the miner said. For 2026, Caledonia expects Blanket gold production to range between 72,000 ounces and 76,500 ounces. The company noted Middle East geopolitical developments have not impacted its operations to date and highlighted that its exported portion of gold is sold through South Africa, ensuring uninterrupted revenue flows. Capital expenditure for 2026 is projected at $178.9 million, including $132.1 million for the development of the Bilboes project, set to become Zimbabwe's largest gold mine once operational. The company declared a quarterly dividend of $0.14. (Reporting by Olivia Kumwenda-Mtambo; Editing by Kirsten Donovan) ((Olivia.Kumwenda@thomsonreuters.com; +27 10 346 1084))