Caledonia contributes US$23,7million to Treasury

LISTED gold producer, Caledonia Mining Corporation, remitted US$23,745 million to the Government in 2024 in taxes and other fiscal obligations, excluding royalty payments amounting to US$9,081 million, the mining company revealed in a recent report.

The company also said it contributed several millions of US dollars in the form of community investments.
The figures are contained in Caledonia’s latest Environmental, Social and Governance (ESG) report for 2024, which highlights the company’s extensive economic footprint beyond employment, procurement and local ownership.

Caledonia underscored its significant role in national development through multiple fiscal channels, including taxes, royalties and regulatory payments.

“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 reads.

“By ensuring fair, transparent and substantial contributions to Zimbabwe’s fiscal system, we support national development and economic stability. Our total payments to the government in 2024 were US$23.745 million, excluding royalties of US$9,081 million.”

Covering the period January 1 to December 31, 2024, the report reflects Caledonia’s commitment to sustainable and transparent operations within Zimbabwe’s mining sector.

The report comes amid Zimbabwe’s drive to strengthen corporate accountability, with all companies listed on the Zimbabwe Stock Exchange (ZSE) and the Victoria Falls Stock Exchange (VFEX) now mandated to publish sustainability reports in line with global best practices.

Sustainability reporting involves disclosure of a company’s environmental, social and governance (ESG) objectives and achievements, demonstrating ethical conduct, risk management and long-term resilience.
Beyond its fiscal obligations, Caledonia also reaffirmed its dedication to community upliftment.

The miner disclosed an investment of US$1.326 million in community development and a US$1.425 million dividend paid 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.

Victoria Falls Stock Exchange
“Our investments span education, healthcare, economic empowerment, environmental conservation and social well-being, supporting initiatives that foster inclusive development and long-term prosperity,” the company said.

The miner also revealed that 40.05 percent of its suppliers were Zimbabwean-owned businesses, underlining its localisation strategy.

It added that job creation remained a central pillar of its socio-economic impact.

“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. When specialist skills are unavailable locally, we prioritise hiring Zimbabwean nationals to ensure skills transfer and economic retention within the country.

“This approach allows us to build a highly skilled workforce, maintain a competitive cost base and foster strong community relations, ensuring a stable and secure operating environment,” reads the report.

Caledonia further noted that strengthening local supply chains was critical to fostering economic resilience in the communities where it operates.

Blanket Mine
“By sourcing materials and services locally, we not only support local businesses and create job opportunities but also reduce transportation costs and emissions. This approach helps build a more sustainable and self-sufficient local economy, which can better withstand external shocks.

“Additionally, engaging with local suppliers allows us to develop long-term partnerships, ensuring a reliable supply of goods and services tailored to our specific needs.”

Through these multifaceted efforts, the company said it continues to contribute meaningfully to Zimbabwe’s economic development while enhancing its operational efficiency and long-term sustainability.-herald