Half Year Results 

Zimbabwe monetary policy hands Caledonia big profit

Zimbabwe monetary policy hands Caledonia big profit

Caledonia Mining (CMCL) had a tough first half of 2019, hit by power outages and grade issues at the Blanket gold mine in Zimbabwe. But the company’s earnings held up because of devaluation and reorganisation of Zimbabwean money in February, with foreign exchange gains of $22.8m (£18.8m) pushing net profits up from $5.8m in the first half of 2018 to $32.6m. 

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