Caledonia Mining Sells Zimbabwe Solar Plant for $22.35 Million

The sale to CrossBoundary Energy Holdings will allow Caledonia to focus on core mining operations while retaining renewable energy supply for Blanket Mine.

• Caledonia Mining Corporation has signed a conditional sale agreement to sell its 12.2MWac solar plant in Zimbabwe to CrossBoundary Energy Holdings for $22.35 million.
• The solar plant, which supplies power to Caledonia's Blanket Mine, will continue its energy supply under an exclusive power purchase agreement.
• The sale will generate an immediate profit for Caledonia, which initially invested $14.3 million in constructing the plant.
• Proceeds from the sale will be reinvested in Caledonia's core gold mining and exploration projects, aiming to yield higher returns for shareholders.
• CrossBoundary Energy, a leading provider of renewable energy solutions in Africa, plans to expand the solar plant to further support Blanket Mine's energy needs.

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