Caledonia Sells 51% Of Blanket Mine To Indigenous Zimbabweans

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Caledonia gives 51% of Blanket to indigenous …

Caledonia Mining announced on Monday it has signed a deal with the Zimbabwe government to sell 51% of its Blanket mine to indigenous Zimbabweans for $30 million. The purchase price will be paid to ...

"Caledonia to Divest 51% of Blanket Mine to Indigenous ...

TORONTO - Caledonia Mining Corp. (TSX:CAL) has reached an agreement to turn over a 51 per cent interest its Blanket gold mine in Zimbabwe to native Zimbabweans in a US$30-million deal. The agreement announced Monday brings Caledonia in line with Zimbabwe's foreign ownership rules that came into effect in 2010 and was hammered out in negotiations with the Ministry of Youth, …

Due Diligence and Valuation Report

Caledonia acquired the Blanket mine from Kinross Gold Corporation on April 2006. During 2012, to comply with Zimbabwean law, Caledonia sold 51% of ownership interest to indigenous Zimbabweans. The funding for this was facilitated by Caledonia which is repaid by way of dividends from the Blanket mine to Caledonia (80% of dividend is

Good times roll for Blanket mine | Miningreview.com

The company has announced that it has completed the signing of conditional agreements to dispose of 51% of its equity to several indigenous parties. Caledonia has since agreed to sell a 16% stake in its Blanket mine to Zimbabwe’s National Indigenisation and Economic Empowerment Fund for …

Blanket Gold Mine - Caledonia Mining Corporation plc

Blanket Mine is part of the group of mines that make up the North Western Mining Camp otherwise also called the Sabiwa group of mines. What is today referred to as Blanket Mine is a cluster of mines extending from Jethro in the south, through Blanket itself, Feudal, AR South, AR Main, Sheet, Eroica and Lima in the north.

Caledonia Mining Corporation

Zimbabwe pursuant to which Caledonia has agreed that Indigenous Zimbabweans will acquire an effective 51% ownership interest of the Blanket Mine for a paid transactional value of US$30.09 million. Pursuant to the above Caledonia has entered into agreements as follows:

CALEDONIA MINING CORPORATION

Blanket Gold Mine, Zimbabwe The First Indigenised Zimbabwean Gold Miner 6 •Indigenisation completed and implemented in Q3 2012 −10% of Blanket donated to local community −41% of Blanket sold to 3 parties for US$30.09 million −Zimbabweans given full credit for resources in the ground •Caledonia continues to consolidate Blanket

Caledonia Mining Corporation Plc

Caledonia Mining Corporation Plc 1 ... to which the Group agreed that indigenous Zimbabweans would acquire an effective 51% ownership interest in the Zimbabwean company owing the Blanket Mine (“Blanket”) for a paid transactional value of $30.09 million.

Caledonia Mining Announces the Completion of the …

11-10-2012· In February 2012 Caledonia and Blanket signed a Memorandum of Understanding ("MoU") with the Zimbabwe Minister of Youth, Development and Empowerment pursuant to which Indigenous Zimbabweans would ...

Investors pile into Caledonia Mining after new copper ...

Caledonia, worth $57 million on ... an operating gold mine in Zimbabwe. Caledonia announced in February it has signed a deal with the Zimbabwe government to sell 51% of its Blanket Mine indigenous ...

Investors pile into Caledonia Mining after new copper ...

Caledonia, worth $57 million on ... an operating gold mine in Zimbabwe. Caledonia announced in February it has signed a deal with the Zimbabwe government to sell 51% of its Blanket Mine indigenous ...

Business in Brief: Caledonia dispose 51% of Blanket Mine ...

22-02-2012· Caledonia Mining Corporation has agreed to dispose 51% in its local gold mining unit Blanket Mine for $30,09 million in compliance with the countrys Indigenisation and Economic Empowerment Act.

Caledonia Mining Announces the Completion of the …

11-10-2012· In February 2012 Caledonia and Blanket signed a Memorandum of Understanding ("MoU") with the Zimbabwe Minister of Youth, Development and Empowerment pursuant to which Indigenous Zimbabweans would ...

“Blanket mine expansion on course despite economic ...

11-02-2019· This saw Caledonia controlling 49 percent shareholding in Blanket while 16 percent shares were sold to the National Indigenisation and Economic Empowerment Board, 10 percent to Blanket’s mine management and employee trust and 15 percent to identified indigenous Zimbabweans.

Blanket Mine gold output surge – NewsDay Zimbabwe

03-04-2012· Caledonia Mining Corporations local unit Blanket Mine recorded a seventh consecutive increase in gold production to 10 ... to sell at least 51% of the shareholding to indigenous Zimbabweans.

Caledonia Mining - Baystreet.ca

Assuming 51% of Blanket is transferred to an indigenous partner for zero consideration, ... EV/Sales : 2.0 . 0.7 : 0.4 . ROE : 4% . ... Caledonia Mining | 25 July 2011 . Blanket mine resources and ...

Major Mines & Projects | Blanket Mine

Blanket Underground Mine is located 14 km NW from Gwanda, Zimbabwe. On February 20, 2012 Caledonia announced it had signed a Memorandum of Understanding with the Minister of Youth, Development, Indigenisation and Empowerment of the Government of Zimbabwe pursuant to which 51% of Blanket would be sold for a paid transactional value of USD30.09 million.

Flemiro snaps stake in Blanket Mine – NewsDay Zimbabwe

11-05-2012· Under its indigenisation plan agreed with the government in February this year, Caledonia decided to shed 51% for a paid transactional value of $30,09 million, with 15% sold to indigenous ...

Caledonia Mining (CALVF); A High Risk Potential High ...

This is part of a wider accord to transfer 51 per cent of gold mine to indigenous Zimbabweans for a total of US$30.1 million. Caledonia has agreed to sell 15 per cent to a local consortium and 10 ...

FG Filed by Filing Services Canada Inc. - (403) 717-3898

Caledonia and Blanket have proceeded to implement the MoU, which is acknowledged by the signatories as being a binding agreement, pursuant to which Indigenous Zimbabweans will acquire an effective 51% ownership of the Blanket Mine for a paid transactional value …

FG Filed by Filing Services Canada Inc. - (403) 717-3898

Caledonia and Blanket have proceeded to implement the MoU, which is acknowledged by the signatories as being a binding agreement, pursuant to which Indigenous Zimbabweans will acquire an effective 51% ownership of the Blanket Mine for a paid transactional value …

Zimbabwe going swimmingly for Caledonia, but platinum ...

Caledonia Mining ended Friday down 10.5% or 1c ahead of the release of it annual results. The company’s flagship asset is Blanket, a producing gold mine Zimbabwe where it reported production ...

Caledonia Mining (CALVF); A High Risk Potential High ...

This is part of a wider accord to transfer 51 per cent of gold mine to indigenous Zimbabweans for a total of US$30.1 million. Caledonia has agreed to sell 15 per cent to a local consortium and 10 ...

Canada-based Caledonia buys back 15% interest in ...

Caledonia acquired the Blanket mine from Kinross Gold (TSX: K; NYSE:KGC) in April 2006. Its interest dropped to 49% following indigenisation in 2012 that forced it to sell 51% of its interest to ...

Mozambique mining conference in April | Miningreview.com

Previous article Caledonia sells 51% of Blanket mine to indigenous Zimbabweans. Next article Effective tramp-iron removal. Test Test. RELATED ARTICLES MORE FROM AUTHOR. Battery metals. Black Rock Mining progresses free-carried interest negotiations with Tanzanian government. East Africa.

Blanket Mine doubles production | Miningreview.com

[img:Zim%20land_0.jpg|Blanket gold mine in Zimbabwe]Toronto, Canada --- 03 April 2012 - Caledonia Mining Corporation ‒ an African-focused mining and exploration company with an operating gold mine in Zimbabwe ‒ more than doubled its gold production during the 1911 calendar year.Pro-active Investors, United Kingdom reports that in its results statement released here, the company ...

Mine given a breather over empowerment - The Mail & …

The Mail & Guardian reported last week that Kasukuwere had withdrawn the goldminer’s licence after rejecting its plan to hand a 51% stake to indigenous Zimbabweans as “unacceptable”.

First casualty of Zimbabwe mine grab - The Mail & Guardian

The Blanket Mine, wholly owned by Canadian firm Caledonia Mining Corporation, is the first casualty of Zimbabwe’s bid to grab shares in the lucrative mining sector.

Government Revenues from Mining: A Case Study of Caledonia ...

Blanket mine: a 5% royalty on the value of gold sales, a 25% corporate income tax, and withholding taxes on payments to non-resident companies (5% on dividends and 15% on management fees). The Blanket mine has generated more than $50 million in government revenue since it reopened in 2009. Corporate income tax accounts for about half of that total.

Blanket Mine board named | The Herald

Following the completion of indigenisation, 49 percent of Blanket Mine is now owned by Caledonia Mining Corporation while 16 percent is owned by National Indigenisation and …