However, since then, the AIM-listed firm said, it has been “encouraged” by continued operations at its Blanket mine and the re-opening of important supply lines.
The company said Blanket’s supply chain of consumables and spares parts was now “close to normal” and the mine was re-establishing full production after having operated at 93% of capacity during lockdown in Zimbabwe.
Caledonia also said it has committed to making weekly donations to coronavirus-related projects in Zimbabwe to combat the spread of the disease.
“Blanket Mine has continued to operate during the recent regional shut down: it has paid its workers, suppliers and the Zimbabwe tax authorities as usual; and it has continued to generate substantial foreign exchange for Zimbabwe”, Caledonia chairman Leigh Wilson said in a statement.
“Our ability to make this dividend payment whilst at the same time making larger contributions to the fight against [coronavirus] is testament to the resilience of our business…Our balance sheet remains in an enviable position and the dividend remains comfortably affordable. Today’s announcement is a continuation of the prudent approach to capital allocation that we have followed for several years – a path that we expect to continue”, he added.