Caledonia Mining Drops Nearly 17% As Blanket Gold Mine Dispute Weigh

Caledonia Mining (CAL.TO) fell by about 17%, nearly hitting year low earlier at about 7 cents, after announcing that it is facing a potential dispute with the Zimbabwean government, which involves ownership over the Blanket gold mine in southern Africa.

The company said it has presented a indigenisation plan but the country's minister responsible for the policy has asked the mines minister to revoke Blanket's operating licence "on the grounds that Caledonia's proposal does not meet the legislated indigenisation requirements."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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