Caledonia Mining Corporation downgrades gold production forecast

Business

Zimbabwe gold miner Caledonia Mining Corporation earned US$7 million from the production of 12,700 ounces in the June quarter. However, grade and power supply issues have cut its full year guidance to 53,000 ounces this year. This comes as the world is experiencing a gold rally, but Zimbabwe has cut down its annual production output for 2019.

The Mint’s Ndaka Majaka has more on this story and with Andy Hodges, they break down what this means for Caledonia and Zimbabwe in terms of gaining from increased gold prices.