In this episode, we chat to Mark Learmonth, CEO, and Director of Caledonia Mining who is a profitable cash-generative gold producer with a strong growth profile, with their primary asset, the Blanket Mine in Zimbabwe.
Mark has a finance and investment background. He joined the company back in 2008 and talks about his journey with Caledonia Mining, what they have been upto including their central shaft project and their Bilboes project, and why Zimbabwe is a great place to invest in mining.
KEY TAKEAWAYS

Caledonia Mining had to grow slowly. Initially, it only had access to the cash they made; there were virtually no 3rd party investors. 
Drilling the central shaft has transformed the company’s profitability.
The workforce in Zimbabwe is very high quality, so there is no need to hire expensive expat staff.
They are now producing around 80,000 ounces per year.
Currently, they are diversifying and becoming a multi-asset producer.
Focusing on Zimbabwe is the plan. They know the jurisdiction well, the workforce is good and the geology is very sound.
The fact that Zimbabwe has very high inflation barely impacts the business. Why is explained, in the podcast.
Caledonia Mining are building a 12 megawatt solar project, which will save around $3 million per annum.
Last year, Caledonia acquired a million ounce resource for $4 million.
A few weeks ago, they acquired a nearly 2.5 million ounce asset. With grades of about 2.25 grams per tonne.
With the extra cash flow, growth will be faster from now on.

BEST MOMENTS
‘I learned the importance of really rigorous cash flow management and paying close attention to investment programs. ´
‘There’s a lot of gold in Zimbabwe, the country has never been properly explored.’
‘The mine has been operating for nearly 100 years. Over that time a sophisticated infrastructure had developed, which we have enhanced.’
 
EPISODE RESOURCES
Website: https://www.caledoniamining.com/
Twitter: https://twitter.com/caledoniamining
Email: info@caledoniamining.com
 
VALUABLE RESOURCES
Email: rob@mining-international.org
Website: https://www.mining-international.org/
LinkedIn: https://www.linkedin.com/in/rob-tyson/
Twitter: https://twitter.com/MiningRobTyson
Facebook: https://www.facebook.com/DigDeepTheMiningPodcast/
Instagram: https://www.instagram.com/theminingpodcast/
YouTube: https://www.youtube.com/c/DigDeepTheMiningPodcast/videos
 
ABOUT THE HOST
Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community insight into people's experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics.
Rob is the Founder and Director of Mining International Ltd, a leading global recruitment and headhunting consultancy based in the UK specializing in all areas of mining across the globe from the first world to third world countries from Africa, Europe, the Middle East, Asia, and Australia. We source, headhunt, and discover new and top talent through a targeted approach and search methodology and have a proven track record in sourcing and positioning exceptional candidates into our client's organizations in any mining discipline or level.
Mining International provides a transparent, informative, and trusted consultancy service to our candidates and clients to help them develop their careers and business goals and objectives in this ever-changing marketplace.
Podcast Description
Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content about the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight into people’s experiences and careers cove