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Caledonia Mining's 2025 gold output met guidance, but Q4 production dipped due to lower ore and power issues, with 2026 outlook at 76,500–78,500 ounces.
Caledonia Mining Corp. reported Q4 2025 gold production at 17,367 ounces, down from 19,841 in the same period the prior year, due to lower tonnages from high-grade areas and power outages, though milling remained strong.
Full-year 2025 output reached 76,500 ounces, meeting guidance.
The company expects improved production in the second half of 2026 as higher-grade ore becomes available.
For 2026, Caledonia projects gold output of 76,500 to 78,500 ounces, with on-mine cash costs of $1,500–$1,700 per ounce and AISC of $2,100–$2,300, driven by inflation and higher operating and sustaining costs.
Total capital spending is forecast at $162.5 million, including $132 million for the Bilboes development project and up to $11 million more for power infrastructure upgrades.
The company continues to focus on safety, reliability, and long-term growth through strategic investments.
La producción de oro de Caledonia Mining para 2025 cumplió con la orientación, pero la producción del cuarto trimestre se redujo debido a problemas de menor mineral y energía, con una perspectiva de 2026 de 76,50078,500 onzas.