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Proactive Investors - Caledonia Mining Corporation (LON:CALq) said that Dana Roets, Chief Operating Officer, is stepping down and leaving the business at the end of February 2024.
Roets joined Caledonia as COO in 2013 and he has been instrumental in the development of the business over the following decade, the miner said.
"During his tenure, production increased from 45,000 ounces to over 80,000 ounces in 2022; with record quarterly production of almost 21,800 ounces in the Blanket mine’s latest quarter.
"Over the same ten-year period, group all-in-sustaining costs reduced from $978 per ounce to $878 per ounce."
Roets was instrumental in the Central Shaft project at Blanket, Caledonia added, which involved the sinking of a six-meter diameter shaft from the surface to 1,204 meters and was carried out using internal financial and technical resources without any fatality.
A process has already commenced to identify a suitable replacement as COO.
Mark Learmonth, chief executive, said: "Dana has made an outstanding contribution to Caledonia over the last ten years - as evidenced by the increased production, reduced costs and exploration success which we believe will, in due course, extend Blanket's life of mine.
This was achieved against the backdrop of a challenging operating environment and the COVID-19 pandemic which introduced a new set of unanticipated operational challenges.
" More recently, he has overseen the construction of the first phase of a new tailings storage facility which, when fully built, is expected to serve the mine for at least the next fourteen years at the current production rate.”