Harare, (New Ziana) — Caledonia Mining Corporation recorded a dramatic 467 percent surge in profit for the third quarter of 2025, buoyed by booming gold prices and steady production from its Zimbabwe operations.
Posting on its National Development Strategy 2 (NDS2) X handle, the Government said the miner posted earnings of US$18.7 million for the period as global gold prices soared 40 percent to an average of US$3,434 per ounce.
“Caledonia Mining’s Q3 2025 profits surged 467 percent to US$18.7 million, driven by a 40 percent increase in gold prices to an average US$3,434/oz. Revenue rose 52 percent to US$71.4 million, with gold sales up 8.7 per to 20,792 oz.
“The company is developing new mining areas at Blanket Mine and investing US$2.8 million in Motapa exploration,” said the Government.
The favourable price environment, said the Government pushed revenue up 52 percent to US$71.4 million, while gold sales rose 8.7 percent to 20,792 ounces. The company said the strong financial performance is providing fresh momentum for its ambitious growth plans across Zimbabwe.
It said, Caledonia is currently expanding beyond its flagship Blanket Mine in Gwanda, where it is developing new mining zones to sustain long-term output.
The miner is also accelerating work at its Motapa asset, committing an additional US$2.8 million to exploration. Recent findings at Motapa — which borders the large Bilboes gold project — have revealed extensive gold mineralisation over a significant strike length, reinforcing confidence in the site’s potential.
A feasibility study for Bilboes, described by the company as “imminent,” is expected to form the backbone of Caledonia’s next phase of expansion. The project, once developed, could become Zimbabwe’s largest gold mine with the company in the process of evaluating a phased development model to limit upfront capital demands and minimise equity dilution as it moves toward commercialisation.
Looking ahead, Caledonia said its key priorities include maintaining stable output at Blanket Mine, completing the Bilboes feasibility assessment, and intensifying exploration at Motapa. Together, these initiatives are expected to position the company for substantial growth and secure its status as one of Zimbabwe’s leading gold producers.
New Ziana
