Caledonia ramps up gold production

GROSS revenues at Victoria Falls Stock Exchange-listed Caledonia Mining Corporation grew by 17,4% to US$142 million last year compared to the same period in 2021, on the strength of increased gold output.

The business generated gross sales of US$121 million in 2021.

The mining company’s operating and financial results for the year ending December 31, 2022 showed that gross profit was US$61,8 million, up 14% from the prior year, and that earnings before interest, taxes, depreciation and amortisation (EBITDA) was US$50,4 million.

This story is for NewsDay subscribers.