REG - Caledonia Mining Crp - Enactment of Zimbabwe’s 2026 National Budget

Caledonia MiningAnnouncement

06/01/2026 07:00

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RNS Number : 7208N  Caledonia Mining Corporation PLC  06 January 2026

Caledonia Mining Corporation Plc

Enactment of Zimbabwe's 2026 National Budget

 

(NYSE AMERICAN, AIM and VFEX: CMCL)

 

St Helier, January 6, 2026 - Caledonia announces that, further to its
 announcements of December 1, 2025 and December 19, 2025, the Republic of
Zimbabwe's Finance Act, 2025 has been passed which enacts the 2026 National
Budget. The enacted provisions confirm the position outlined in the
announcement of December 19, 2025. Specifically:

·      The higher royalty rate of 10% will only apply if the gold price
exceeds US$5,000 per ounce.

·      The other proposed changes to the tax and royalty regime that
were  highlighted in the announcement of December 1, 2025 have been
withdrawn.

Caledonia confirms that no amendments are therefore required to the Bilboes
Gold Project Technical Report Summary, which was published on November 25,
2025, as a result of the changes proposed in the Budget that were highlighted
in Caledonia's announcement of December 1, 2025.

 

Enquiries:

 Caledonia Mining Corporation Plc

 Mark Learmonth                                             Tel: +44 1534 679 800

 Camilla Horsfall                                           Tel: +44 7817 841 793
 Cavendish Capital Markets Limited (Nomad and Broker)

 Adrian Hadden                                              Tel: +44 207 397 1965

 Pearl Kellie                                               Tel: +44 131 220 9775
 Camarco, Financial PR (UK)

 Gordon Poole                                               Tel: +44 20 3757 4980

 Elfie Kent
 Curate Public Relations (Zimbabwe)

 Debra Tatenda                                              Tel: +263 77802131
 IH Securities (Private) Limited (VFEX Sponsor - Zimbabwe)

 Lloyd Mlotshwa                                             Tel: +263 (242) 745 119/33/39

 

CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS

 

Information and statements contained in this document that are not historical
facts are "forward-looking information" or "forward-looking statements"
(collectively, "forward-looking statements") within the meaning of applicable
securities legislation that involve risks and uncertainties relating, but not
limited, to Caledonia's current expectations, intentions, plans, and beliefs.
Forward-looking statements can often be identified by forward-looking words
such as "anticipate", "believe", "expect", "goal", "plan", "target", "intend",
"estimate", "could", "should", "may" and "will" or the negative of these terms
or similar words suggesting future outcomes, or other expectations, beliefs,
plans, objectives, assumptions, intentions or statements about future events
or performance. Examples of forward-looking statements in this document
include: that Caledonia believes that there should be no amendments required
to the Bilboes Gold Project Technical Report Summary due to the budget. These
forward-looking statements are based, in part, on assumptions and factors that
may change or prove to be incorrect, thus causing actual results, performance
or achievements to be materially different from those expressed or implied by
forward-looking statements.

Security holders, potential security holders and prospective investors should
be aware that forward-looking statements are subject to known and unknown
risks, uncertainties and other factors that could cause actual results to
differ materially from those suggested by the forward-looking statements. Such
factors include, but are not limited to: risks relating to estimates of
mineral reserves and mineral resources proving to be inaccurate, fluctuations
in gold price and payment terms for gold sold, risks and hazards associated
with the business of mineral exploration, development and mining (including
environmental hazards, industrial accidents, unusual or unexpected geological
or structural formations, pressures, power outages, fire, explosions,
landslides, cave-ins and flooding), risks relating to the credit worthiness or
financial condition of suppliers, refiners and other parties with whom the
group does business, inadequate insurance, or inability to obtain insurance,
to cover these risks and hazards, employee relations, relationships with and
claims by local communities and indigenous populations, political risk, risks
related to natural disasters, terrorism, civil unrest, public health concerns
(including health epidemics or outbreaks of communicable diseases such as the
coronavirus (COVID-19)), availability and increasing costs associated with
mining inputs and labour, the speculative nature of mineral exploration and
development, including the risks of obtaining or maintaining necessary
licenses and permits, diminishing quantities or grades of mineral reserves as
mining occurs, global financial condition, the actual results of current
exploration activities, changes to conclusions of economic evaluations, and
changes in project parameters to deal with unanticipated economic or other
factors, risks of increased capital and operating costs, environmental, safety
or regulatory risks, expropriation, the Group's title to properties including
ownership thereof, increased competition in the mining industry for
properties, equipment, qualified personnel and their costs, risks relating to
the uncertainty of timing of events including targeted production rate
increase and currency fluctuations, and the other risks discussed in
Caledonia's most recent Form 20-F annual report and other filings made with
the U.S. Securities and Exchange Commission. Security holders, potential
security holders and prospective investors are cautioned not to place undue
reliance on forward-looking statements. By their nature, forward-looking
statements involve numerous assumptions, inherent risks and uncertainties,
both general and specific, that contribute to the possibility that the
predictions, forecasts, projections and various future events will not occur.
Caledonia reviews forward-looking statements for the purposes of preparing
each announcement; however, Caledonia undertakes no obligation to update
publicly or otherwise revise any forward-looking statements whether as a
result of new information, future events or other such factors which affect
these statements, except as required by law.

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