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Caledonia Mining's finance head takes over as chief executive stands down

Last updated: 01:59 18 Nov 2014 EST, First published: 02:59 18 Nov 2014 EST

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Caledonia Mining (TSE:CAL) (LON:CMCL) has made a change at the top with Steve Curtis taking over as chief executive from Stefan Hayden, who is stepping down.

Curtis, who is currently Caledonia's chief financial officer, takes up his new position immediately. He joined the gold miner in April 2006 and became a director in 2008.

Hayden joined Caledonia in 1995 and was appointed president and chief executive in 1997. Leigh Wilson, Caledonia's chairman, praised his contribution to Caledonia's development.

"Under Stefan's leadership, Caledonia has been transformed into an enterprise which has a robust balance sheet and is focused on the Blanket Gold Mine in Zimbabwe.

“Blanket is one of the lowest cost gold producers in Africa and is also one of the very few Zimbabwean companies which has complied fully with local ownership requirements.”

Mark Learmonth, currently vice president, Investor Relations and Corporate Development, will take over the finance reins.

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