Home » Steve Curtis makes plans to list Caledonia Mining Corporation on Zimbabwe’s new Victoria Falls bourse

Steve Curtis makes plans to list Caledonia Mining Corporation on Zimbabwe’s new Victoria Falls bourse

by Editorial Team

Top mining executive Steve Curtis has hinted that Caledonia Mining Corporation Plc might move to get listed on Zimbabwe’s new bourse before the year ends. 

The move would see Caledonia reinforce its commitment to Zimbabwe, the home of its Blanket gold mine, by becoming the first foreign-owned enterprise to list on the Victoria Falls Exchange (VFEX).

Caledonia is Zimbabwe’s second-largest gold producer.

The bourse was founded in October 2020 to generate foreign earnings for Zimbabwe’s paralyzed economy as it trades solely in U.S. dollars. Curtis, Caledonia’s CEO, has referred to the bourse as a more liberal economic environment. 

“I welcome the step towards a more liberal financial environment which is embodied in the proposed benefits attaching to a listing on the Victoria Falls Stock Exchange,” Proactive Investors reported Curtis as saying.

Caledonia is a profitable cash generative gold producer with a strong growth profile. Its primary asset is the Blanket Mine in Zimbabwe. The group’s management team is based in Johannesburg, South Africa, London, the United Kingdom and Jersey, Channel Islands.

By 2022, Caledonia plans to increase its annual production by 45 percent to 80,000 ounces. The VFEX listing would make it easier for Caledonia and Blanket employees to participate as shareholders.

For now, the VFEX listing will be hinged on general market conditions and confirmation that the necessary mechanisms are in place to benefit from a listing. 

When listed, Caledonia will leverage the bourse’s waivers on capital gains tax and its ability to repatriate funds from Zimbabwe.

You may also like


The world’s premier source of news on Africa’s billionaires and UHNWIs.


Get the daily email to stay informed about African billionaires and UHNWIs. Get informed and entertained, for free.

Latest News

@2024 – Billionaires.Africa. All Rights Reserved.