Caledonia Mining Corporation: Update on Indigenisation at the Blanket Mine in Zimbabwe
TORONTO, ONTARIO -- (Marketwire) -- 08/23/11 -- Caledonia Mining Corporation ('Caledonia') (TSX: CAL)(OTCBB: CALVF)(AIM: CMCL) provides below the text of a joint statement issued this morning in Harare, Zimbabwe.
'Joint statement issued by the Ministry of Youth Development, Indigenisation and Empowerment and Caledonia Mining Corporation on behalf of Blanket Mine regarding the Blanket Mine Indigenisation Implementation Plan.
The parties met on 22 August 2011 and agreed on a process that will result in the production of a revised Indigenisation Implementation Plan for Blanket Mine that is compliant with the Indigenisation and Economic Empowerment Act. The plan will take into account the independently verified intrinsic value of the mineral resources, plant and equipment at the mine.
As a result the Hon Minister Saviour Kasukuwere has agreed to suspend the cancellation of Blanket Mine/s operating licence pending the submission of a compliant Indigenisation Implementation Plan.'
Contacts:
Caledonia Mining
Mark Learmonth
27 11 447 2499
marklearmonth@caledoniamining.com
Buck Bias
Alex Buck
44 7932 740 452
Collins Stewart Europe Limited
John Prior/Sebastian Jones
44 20 7523 8350
Renmark Financial Communications Inc
John Boidman
jboidman@renmarkfinancial.com
Renmark Financial Communications Inc
Dustin Buenaventura
1 514 939 3989 or 1 416 644 2020
dbuenaventura@renmarkfinancial.com
www.renmarkfinancial.com