The Sunday Mail
Online Reporter
CALEDONIA Mining Corporation has completed the acquisition of Bilboes Gold Limited in Zimbabwe for US$65,6 million.
Bilboes is a large, high-grade gold deposit located approximately 75 km north of Bulawayo.
Said Caledonia CEO Mr Mark Learmonth: “Completion of the transaction is the cornerstone in Caledonia’s strategy to create a mid-tier, multi-asset gold producer focused on Zimbabwe.
“In the short term, I expect ore production from the Bilboes oxides will commence in early February and we anticipate beginning to recover gold from the heap leach from March.”
