• COUNTRY IN FOCUS
annum in 2022 . Curtis was speaking at this year ’ s virtual Junior Mining Indaba , held during the first week of June 2021 .
Caledonia managed to complete an expansion project and construct a shaft in what some would consider one of the most difficult mining jurisdictions to do business in . Zimbabwe ’ s economy has been in freefall since the 1990s and for a business to not only survive , but to thrive in this business environment , is an extraordinary feat . Besides the recent expansion , Caledonia has been rewarding its shareholders on a quarterly basis , one of the few mining companies in the world to do so .
" We increased the dividend for the fourth time at the start of January 2021 to 11 cents a share and we increased it again to 12 cents per share in April 2021 . This is a 75 % cumulative increase from the level of 6.875 cents since October 2019 , creating genuine value and returns for our shareholders ,” said Curtis .
Shareholders in Caledonia might be in for more treats in the future as the company ramps up its exploration programme in Zimbabwe . In December , Caledonia entered into an option agreement on two properties , Glen Hume , and Connemara North , in the Gweru mining district in the Zimbabwe Midlands . These options give the company the right to explore each property for periods of 15 and 18 months respectively .
“ If our exploration is successful these properties will add further impetus to our growth . We have made good progress on the drilling campaign at Glen Hume , and we are evaluating the results of the first phase . At Connemara , where we have the benefit of evaluating historical drill data , we are preparing a geological model before we commence drilling this summer ,” Curtis said .
Caledonia ’ s Blanket mine has been a stalwart in the Zimbabwean mining industry . The company ’ s tenacity and resilience despite a deteriorating political and economic environment , and its philosophy of looking after its shareholders first , is commendable . Its exploration projects are exciting and could add further value to the growth prospects of a remarkable story in African Mining . Blanket ’ s success is a good example to any operation in Africa and proof that it is possible to thrive even in extreme adversity .
Zimbabwe Platinum Mining Sector There was some life in the vibrant platinum sector in Zimbabwe although the effect of Covid-19 had a big impact on what is one of the world ’ s regions with the most potential . Zimbabwe ’ s geology is spectacular , and if the rich platinum reserves could be beneficiated , in-country , it will become a top destination for investment . However , the challenges remain .
The Zimbabwean platinum mining sector suffered during the strict lockdown . This placed more strain on the already stressed platinum sector that in previous years had to face severe power blackouts and increasingly stringent government control measures applied to the sector .
The platinum mines of Zimbabwe are all located along the Great Dyke , that bisects the country from North to South . The layered mafic to ultramafic rocks , host the platinum mineralisation , with higher grades associated with structural features within the larger intrusion .
14 • African Mining • September 2021 www . africanmining . co . za