Caledonia Mining Corporation Plc announced gold production of 17,360 ounces from its flagship Blanket Mine in Zimbabwe for the quarter ended June 30, 2026.
The result represents an 18 percent increase compared to the 14,767 ounces produced in the first quarter of 2026 and reflects early progress in restoring access to higher-grade mining areas at the operation. Grades delivered to the plant have improved steadily since January, with the average grade for Q2 2026 coming in at 2.88 grams per tonne. Momentum continued into July, with the grade to date averaging 3.05 grams per tonne.
Blanket’s performance in the second quarter was consistent with the Company’s plan for production to be weighted toward the second half of the year as access to richer ore zones improves. The operational measures put in place to restore access to higher-grade areas are now gaining traction, supporting both higher throughput and better grades quarter-on-quarter.
Production in Q2 2026 was below the comparable period in 2025, which benefited from exceptional grades and delivered a record second quarter for Blanket. As previously indicated, the planned mining sequence and constrained access to higher-grade areas during the first half of 2026 weighed on output. The Company noted that the improvement from Q1 to Q2 is in line with expectations for a recovery through 2026, with further benefits anticipated as the mine progresses into better-grade areas later in the year.
Caledonia reaffirmed its 2026 production guidance for Blanket Mine of between 72,000 and 76,500 ounces, guidance first published on January 14, 2026. The outlook assumes continued improvement in grade and access through the second half of the year as the mining sequence advances. The Company’s 2025 results were published on March 23, 2026.
Blanket Mine remains Caledonia’s core producing asset in Zimbabwe and one of the country’s largest and longest-running gold operations.
