Listed gold producer Caledonia Mining Corporation has reaffirmed its pivotal role in Zimbabwe's economic development, contributing US$23.745 million to the Government in 2024, excluding royalty payments of US$9.081 million. The figures, disclosed in the company's latest Environmental, Social and Governance (ESG) Report, underscore its commitment to transparency, national growth, and sustainable operations.
The report, which covers the calendar year from January 1 to December 31, 2024, provides a comprehensive overview of Caledonia's economic and social impact, particularly through its Blanket Mine operations in the Gwanda region. The company highlighted that its payments to the Government encompassed a wide range of fiscal obligations including income tax, PAYE, gold royalties, withholding taxes, customs duties, dividends, and levies.
"Our payments to the Zimbabwean government include income tax on Blanket Mine's profits, PAYE (income tax on employee wages and benefits), five percent gold royalty payments, withholding tax on cross-border transactions, revenues from gold refining arrangements, dividends paid to NIEEF for its 16 percent stake in Blanket, and various customs, duties, levies, and charges," the report stated.
Caledonia emphasised that these payments reflect its commitment to fair and substantial contributions that support Zimbabwe's national development and fiscal stability. The combined total of tax and royalty contributions stands at over US$32.8 million.
Beyond government contributions, Caledonia is also making strong strides in social investment. In 2024, the company channelled US$1.326 million into community development, focusing on seven strategic pillars including education, healthcare, economic empowerment, environmental protection, and social well-being. A further US$1.425 million was paid as dividends to local community trust shareholders.
"In 2024, we committed US$1.326 million across seven strategic community investment pillars, ensuring that our contributions align with local priorities and create tangible benefits," the company said.
The ESG report also outlines Caledonia's ongoing support for local businesses and job creation. According to the report, 40.05 percent of its suppliers are Zimbabwean-owned, reinforcing its localisation strategy. Blanket Mine remains one of the largest employers in the Gwanda region, with the company prioritising local recruitment and skill development while ensuring the transfer of expertise to Zimbabwean nationals.
"As one of the largest employers in the Gwanda region, Blanket Mine provides jobs in a region where employment opportunities are scarce. We focus on hiring locally, upskilling workers, and offering genuine career progression opportunities," the report added.
Caledonia also stressed the importance of local supply chains in enhancing sustainability and economic resilience. Sourcing locally, the company said, not only supports domestic enterprises and creates employment but also reduces transportation costs and carbon emissions.
The publication of Caledonia's ESG report comes amid new regulatory requirements by the Zimbabwe Stock Exchange (ZSE) and the Victoria Falls Stock Exchange (VFEX), which now mandate listed companies to issue sustainability reports in line with global best practices. These reports are expected to demonstrate ethical conduct, risk management, and long-term business resilience.
With its strong financial contributions, focus on local development, and adherence to sustainability principles, Caledonia Mining Corporation continues to position itself as a key player in Zimbabwe's mining sector and broader economic transformation.
- the herald
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