News

October 29, 2008

Caledonia Mining Suspends Operations At Blanket And Is Now Waiting On The Zambian Election Before Proceeding On Nama

By Tawanda Karombo In Harare

Stretching across some 1,708 meters, the Victoria Falls creates perhaps the widest curtain of water anywhere in the world. Upstream, Lake Kariba is one of the largest lakes human-kind has ever constructed. There are other spectacular water falls and large water bodies across the world. Venezuela’s Angel Falls is the world’s largest water-fall, plunging some 979 metres and Niagara Falls, which is composed of two sections – in Canada and the other in the United States – is pretty epic too. But there’s something about an African sky, that when you set Victoria Falls or Kariba against it, makes them both seem rather special. The Victoria Falls and Lake Kariba separate the two southern African nations at the heart of Caledonia Mining Corporation.

But unlike the relentless motion of the waters of the Victoria Falls, ideal for white water rafting, Caledonia Mining’s operations in these two countries have all of a sudden become somewhat becalmed, more like the still waters of Lake Kariba. Things are not so rosy for Caledonia, especially in Zimbabwe, where the company’s Blanket gold mine has suspended operations due to the repeated failure by the Zimbabwe central bank to pay for gold. Only Fidelity Printers, a subsidiary of the Reserve...