Green Light from Feasibility — Project Advances Toward Development
On November 25, 2025, Caledonia announced that, following the completion and publication of a robust feasibility study, it will proceed with the development of the Bilboes Gold Project, located ~80 km north of Bulawayo in Matabeleland North. The project holds proven and probable reserves of ~1.75 million ounces of gold at 2.26 g/t, and is planned as a single-phase open-pit operation expected to produce 1.55 million ounces over a roughly 11-year mine life.
Regulatory and Stakeholder Alignment: From Permits to Potential Social License
With the development decision now official, Caledonia faces the next stage: obtaining permits, aligning with regulatory frameworks, and engaging local stakeholders. The public nature of the feasibility study, along with declared plans to finance and build the mine, places a spotlight on Bilboes’s regulatory and social-readiness processes. For a project of this scale in Matabeleland North — a region with historically sensitive relations between mining companies, communities, and the state — this alignment phase becomes crucial for establishing a legitimate and durable social license to operate.
Why Bilboes Matters — A Test for Zimbabwe’s Mining Credibility and Regional Value Creation
Bilboes could emerge as Zimbabwe’s largest gold mine, offering substantial potential not just for output but for economic uplift, foreign-exchange earnings, and job creation. But the success of that potential depends heavily on regulatory clarity, transparent stakeholder engagement, and local inclusion. If managed carefully, Bilboes could set a benchmark for how new mining developments in Zimbabwe transition from resource exploitation to stakeholder-anchored prosperity. If not, the risk remains that community grievances or regulatory delays may undermine economic promise — a reminder that technical viability alone does not guarantee long-term legitimacy.