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Harare / LondonCapital · Policy · Enterprise · Leadership12 Oct 2026
THE APEX SIGNALCapital•Policy•Enterprise•Leadership•Infrastructure•National projects
All institutionsMAPPED · Zimbabwe / international
CM
Mining operator

Caledonia Mining Corporation Plc

A Zimbabwe-focused gold mining and development company mapped across Blanket, Bilboes, Motapa and Maligreen.

WHY IT MATTERS

Caledonia provides a multi-stage gold platform spanning operating cash flow, development finance and exploration optionality.

APEX LENSES
GoldMiningGwandaBilboesExplorationCapital
CONNECTED ASSETSMine + processing · operatingBlanket Gold Mine

Matabeleland South · gold

Development project · developmentBilboes Gold Project

Matabeleland North · gold

Development project · watchMotapa Gold Project

Matabeleland North · gold

Development project · watchMaligreen Gold Project

Midlands · gold

OPERATING CONTEXT
VERIFIEDCaledonia states that it owns 64% of Blanket, with the remaining 36% held by local Zimbabwean shareholders.

Underground mining · Crushing and milling · Carbon-in-leach gold recovery · On-site smelting to gold bullion

VERIFIEDCaledonia identifies Bilboes as a 100%-owned Zimbabwe gold project.

Planned BIOX pre-treatment for refractory ore · Planned large-scale gold processing plant

VERIFIEDCaledonia states that it purchased Motapa Mining Company UK Limited in 2022 and controls the Zimbabwe subsidiary holding the registered mining lease.

Exploration drilling · Resource definition · Future mine-development studies

VERIFIEDCaledonia identifies Maligreen as a wholly controlled Zimbabwe gold property within its exploration portfolio.

Brownfield exploration · Resource evaluation · Historic open-pit mine assessment

REGULATORY EXPOSURETitle and operating rights · current-frameworkMining title and operating-rights framework

Mines and Minerals Act [Chapter 21:05]

Environmental approval · activeMining environmental and social impact approval

Environmental Management Act framework and EMA ESIA process

Environmental liability · activePolluter-pays environmental liability

SI 2026-092 Environmental Liability: Polluter Pays Regulations

Marketing and dealing · current-frameworkGold dealing and trade regime

Gold Trade Act [Chapter 21:03]

Tax and fiscal · watchMining tax and fiscal framework

Zimbabwe tax legislation and current ZIMRA mining tax rates

REGULATORY DISCIPLINE
GRAPH INTERPRETATIONExposure is not a compliance allegation.

Apex links operators to rules that can affect their mineral systems. Asset-specific permits, breaches, exemptions or liabilities are only promoted when separately evidenced.

LONGITUDINAL HISTORY2026-08-14 · RegulationPolluter-pays liability enters the mining risk stack

The 2026 environmental-liability regulations add a new dated regulatory layer for rehabilitation, environmental risk and capital exposure across mining systems.

2026 · CapitalBilboes enters integrated funding phase

Caledonia reported a multi-part Bilboes funding strategy including convertible-note proceeds and a wider formal project-finance process.

2025-11 · DevelopmentBilboes feasibility study advances development case

Caledonia's feasibility work established the current large-scale BIOX development concept and moved Bilboes into a source-backed development and funding phase.

2025-04-11 · CapitalBlanket solar plant sold with PPA retained

Caledonia sold the company owning Blanket's solar plant while retaining power access through an exclusive purchase agreement, converting owned infrastructure into contracted supply.

2023-01-06 · OwnershipCaledonia completes Bilboes acquisition

Bilboes moved into Caledonia's Zimbabwe portfolio, creating the platform for the group's transition toward a multi-asset gold system.

2022-11 · OwnershipCaledonia acquires Motapa

Caledonia acquired the corporate structure holding the Motapa mining lease, adding a large exploration property adjacent to Bilboes to its Zimbabwe portfolio.

CHANGE COVERAGE
7 DATED EVENTSHistory is now part of the operator graph.

Ownership, capital, commissioning, operating-state and regulation changes can accumulate here without overwriting the current institution profile.

CONNECTED PEOPLE

No named Builder connection mapped yet.

CONNECTED PROJECTS

Project relationships for this institution are added as evidence is verified.

ATLAS NODESMatabeleland South · Gold + miningGwanda / Blanket gold operating systemMatabeleland North · Gold + developmentBilboes / Matabeleland North gold development system
SOURCE TRAILAsset intelligence · Caledonia Mining Corporation Plc · verifiedZimbabwe operations overviewAsset intelligence · Caledonia Mining Corporation Plc · verifiedBlanket Gold MineAsset intelligence · Caledonia Mining Corporation Plc · verifiedBilboes Gold ProjectAsset intelligence · Caledonia Mining Corporation Plc · verifiedMotapaAsset intelligence · Caledonia Mining Corporation Plc · verifiedMaligreen
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