The Victoria Falls Stock Exchange-listed gold producer Caledonia Mining Corporation says it has contributed about US$250 million to Zimbabwe’s economy over the past nine years.
The firm said the contribution took several forms, including employment, local procurement, taxes, royalties and other statutory payments.
The contribution, disclosed in the company’s 2025 environmental, social and governance (ESG) report, comes as Caledonia expands beyond its flagship Blanket Mine and advances plans to become a multi-asset gold producer through projects such as Bilboes.
“Beyond ownership, Caledonia continues to make substantial contributions to Zimbabwe’s economy through employment, local procurement, taxes, royalties and statutory payments,” the company said.
“Over the past nine years, the group has contributed approximately US$250 million to the Zimbabwean economy, with 2025 representing a step-change in the scale of annual contributions.”
Mining remains one of Zimbabwe’s largest foreign currency earners and has become increasingly important as the country seeks to attract investment and drive economic growth.
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Gold is the country’s single biggest mineral export.
The report shows that Caledonia nearly doubled its spending on local suppliers to US$31,9 million in 2025 from US$16,5 million the previous year, highlighting the growing importance of local procurement in supporting businesses linked to mining operations.
The company also increased community development investment to US$1,6 million from US$1,4 million in 2024.
One of the most notable developments was a sharp rise in dividends paid to the Gwanda Community Share Ownership Trust, which received US$5,5 million in the period under review compared to US$1,4 million the previous year.
The trust holds 10% shareholding in Blanket Mine, while employees also own a separate 10% stake through an employee ownership trust.
Caledonia said the employee trust reached an important milestone after fully repaying the loan that had been used to acquire its shareholding.
“The year marked an important milestone with the final repayment of the loan originally used to acquire the employee trust’s 10% shareholding,” the company said. “As a result, the trust now receives the full benefit of dividends without encumbrance.”
The company revealed that a dividend paid in February, based on 2025 performance, translated into approximately US$600 for each beneficiary.
Caledonia’s economic impact comes against the backdrop of strong operational performance at Blanket Mine, which produced 76 213 ounces of gold in 2025, within guidance of 75 500 to 79 500 ounces.
Revenue rose to US$237 million from US$183 million in 2024, while gross profit increased to US$137 million from US$76,9 million.
The company employed 2 382 people during the year, of whom 98,5% were Zimbabwean nationals.