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Caledonia Mining to see substantial earnings increase from Zimbabwe tax boost

Steve Curtis discusses with Proactive's Andrew Scott the impact on Caledonia Mining Corporation PLC (LON:CMCL TSX:CAL) from changes in Zimbabwe’s export credit rules.

The Reserve Bank of Zimbabwe raised the Export Credit Incentive (ECI) paid to all gold miners to 10% from 2.5% in February.

Assuming gold remains at US$1,260 per oz, the benefit to Caledonia - which owns 49% and runs the Blanket gold mine - might be an extra US$5.1mln over the full year to December.

Quick facts: Caledonia Mining Corporation

Price: 620 GBX

AIM:CMCL
Market: AIM
Market Cap: £66.73 m
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Caledonia Mining's Blanket Mine 'a solid performer' despite challenging quarter

Steve Curtis, chief executive of Caledonia Mining Corporation PLC (LON:CMCL, TSX:CAL), tells Proactive's Andrew Scott gold output during the three months to the end of June was marginally higher than the first quarter of 2018, in line with expectations. The Zimbabwe-focused gold miner...

on 08/10/2018

2 min read