(Alliance News) - Caledonia Mining Corp PLC on Thursday said it installed and commissioned a new oxygen plant at the Blanket mine in Zimbabwe.
The new oxygen plant is expected to improve metallurgical recovery and reduce cyanide consumption at Blanket, the exploration and development company said.
Based on test work conducted, Caledonia said it anticipates that the plant will improve overall metallurgical recoveries at Blanket to 94%. Recoveries have averaged 93% in 2019.
"This marks the latest in a series of investments to increase production and improve operating proficiency at Blanket as we continue our growth trajectory to 80,000 ounces per annum by 2022," said Chief Executive Steve Curtis.
"The new oxygen plant will provide up to six tonnes of improved oxygen supply to the Blanket carbon-in-leach plant which is expected to increase recoveries to 94%," added Curtis.
Caledonia also said it anticipates that the oxygen plant will result in slightly lower operating costs as cyanide consumption is expected to be reduced as a result of the improved oxygen supply.
The stock was trading 2.2% lower on Thursday in London at 562.10 pence a share.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Caledonia Min (CMCL)