Steve Curtis to retire as Caledonia CEO

Takudzwa Musakasa

Caledonia Mining Corporation chief executive officer, Steve Curtis, is set to retire by 23 June 2022 and will be succeeded by  Mark Learmonth, the current chief financial officer of the firm.

The company chairman,  Leigh Wilson, announced the development in a statement.

 “The company announces that Steve Curtis, aged 65, has notified the board of directors of his intention to retire from his role as a chief executive officer with effect from June 30, 2022,

“He will be succeeded as a chief executive officer by Mark Learmonth, Caledonia’s chief financial officer.

“Curtis will continue to serve as a director of Caledonia, transitioning from an executive to a non-executive role by the end of 2022.” said the firm.

He will also work for the company as a consultant until the end of 2023.

Curtis made an extraordinary contribution to the company, according to Wilson.

“Under his calm and steady leadership since November 2014, Caledonia’s production has almost doubled and its market capitalization has increased over four-fold,” he said.

Curtis, he added also created the groundwork for Caledonia’s next phase of growth, emphasizing that the Central Shaft project at Blanket Mine has been the CEO’s defining feature.

Blanket Mine, a gold business headquartered in Gwanda, is a subsidiary of the Group.

The Central Shaft project began in February 2015 and was completed successfully in March of this year.

The company also stated that from 2022 onwards, the new shaft is planned to increase production to 80 000 ounces of gold per year, nearly doubling the level of production recorded in 2014.

“Under Steve’s stewardship, the strength and depth of Caledonia’s management team have increased so that it has the capacity to take on new projects.

“In recent years, under Steve’s leadership, Caledonia has also improved its relevance to international capital markets, which has resulted in a substantial increase in Caledonia’s share price since 2014 and a significant increase in the liquidity of its shares which now trade on AIM, New York Stock Exchange and the Victoria Falls Stock Exchange in Zimbabwe,” said Wilson.

“I am delighted that Steve will remain with Caledonia in a non-executive role and look forward to his invaluable guidance in the future, which I am certain will continue to be a major asset to the Company,” said Wilson.

Wilson said Learmonth, who has served as the company’s Chief Financial since November 2014, was familiar with the challenges and opportunities that come with doing business in Zimbabwe.

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