Loading ...Caledonia Mining Corporation (LON: CMCL) is set to be the new owner of one of Zimbabwe’s biggest gold mining projects after agreeing to acquire Bilboes Gold Limited, owner of the namesake gold project, in a $53 million shares deal, plus a royalty on revenues.
The transaction could more than double Caledonia’s annual production, potentially making it Zimbabwe’s top gold miner. It would also help the company become a multi-asset mid-tier producer.
Caledonia Mining to buy one of Zimbabwe’s largest gold projects