Caledonia Advances Zimbabwe Gold Mine

Published: 19 Jan, 2026 17:34 Sources: S1 S2 Category: Business Language: English Country: Zimbabwe

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Caledonia Mining plans to spend about $132 million in 2026 to begin developing the Bilboes project, expected to become Zimbabwe’s largest gold mine. The investment forms part of a $162.5 million capital program, driven by record gold prices. Bilboes is forecast to start production in 2028 and reach 200,000 ounces annually from 2029. Recent tax and royalty policy reversals have supported the expansion.