Caledonia Mining sells Zimbabwe solar plant subsidiary to CrossBoundary Energy for $22.35M, focusing on gold mining.

Caledonia Mining Corporation has agreed to sell its Zimbabwe subsidiary, which operates a 12.2MWac solar plant supplying Blanket Mine, to CrossBoundary Energy Holdings for $22.35 million. The sale allows Caledonia to focus on gold mining and reinvest profits into more lucrative projects. The solar plant's power will continue to be purchased by Blanket Mine under a contract. Completion is pending local regulatory approvals and equipment upgrades.

October 01, 2024
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