REG - Caledonia Mining Crp - Solar Power Plant at Blanket Mine Update

Caledonia MiningAnnouncement

10/02/2023 07:00

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RNS Number : 5009P  Caledonia Mining Corporation PLC  10 February 2023

Caledonia Mining Corporation Plc

Update on the operation of the new Solar Plant and electricity supply to
Blanket Mine

 

(NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL)

 

St Helier, February 10, 2023 - Caledonia Mining Corporation Plc ("Caledonia"
or the "Company") is pleased to announce that its 12MWac solar project, which
was connected to the Blanket electrical grid in November 2022, is operating
better than expected and is generating slightly more power than was
anticipated; it currently provides approximately 27 per cent of Blanket's
average daily electricity demand.

 

In recent months there has also been a substantial improvement in the supply
of power from the Zimbabwe grid which has substantially reduced the amount of
diesel consumed and has reduced the frequency of interruptions to production.

 

 

Commenting on the announcement, Mark Learmonth, Chief Executive Officer,
said:

 

"The completion of the solar project coincides with an improvement in the
supply of power from the Zimbabwe grid which has substantially reduced the
amount of diesel consumed.  As an initial early-stage indicator, in January
2023, Blanket consumed 18,000 litres of diesel, which compares to
approximately 120,000 litres per month for the whole of 2022. Whilst we can't
be certain that this quantum of improvement will be fully maintained as the
year progresses, we are confident that we will continue to see an ongoing
meaningful reduction to our diesel usage month on month, fully justifying our
investment in solar power and delivering on our ESG strategy."

 

 

 

Enquiries:

 Caledonia Mining Corporation Plc

 Mark Learmonth                                             Tel: +44 1534 679 800

 Camilla Horsfall                                           Tel: +44 7817 841 793
 Cenkos Securities plc (Nomad and Joint Broker)

 Adrian Hadden                                              Tel: +44 207 397 1965

 Neil McDonald                                              Tel: +44 131 220 9771

 Pearl Kellie                                               Tel: +44 131 220 9775
 Liberum Capital Limited (Joint Broker)

 Scott Mathieson/Kane Collings                              Tel: +44 20 3100 2000
 BlytheRay Financial PR (UK)

 Tim Blythe/Megan Ray                                       Tel: +44 207 138 3204

 3PPB (Financial PR, North America)                         Tel: +1 917 991 7701

 Patrick Chidley                                            Tel: +1 203 940 2538

 Paul Durham
 Curate Public Relations (Zimbabwe)                         Tel: +263 77802131

 Debra Tatenda
 IH Securities (Private) Limited (VFEX Sponsor - Zimbabwe)  Tel: +263 (242) 745 119/33/39

 Lloyd Mlotshwa

 

 

 

 

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