Caledonia Mining Corporation Plc
Caledonia Mining Corporation Plc is a company registered in Jersey under registration number 120924, with a registered office in St. Helier, and currently holds active status on the Jersey register. The company was continued from Canada to Jersey, with shareholder approval obtained in February 2016 and the move taking effect the following month; on-file registry data records 19 March 2016 as the incorporation/continuance date.
Caledonia Mining Corporation Plc is a gold production, exploration and development company focused on Zimbabwe. Its principal operating asset is the Blanket Mine, an underground gold mine near Gwanda in Matabeleland South province, in which Caledonia Mining Corporation Plc holds a 64% interest; the remaining interest is held by Zimbabwean shareholders, including the National Indigenisation and Economic Empowerment Fund, the Blanket Employee Trust and the Gwanda Community Share Ownership Trust. The company also holds a 100% interest in the Bilboes gold project, a large-scale development asset in Zimbabwe for which a feasibility study was published in November 2025, together with the Motapa and Maligreen gold-exploration claims.
Caledonia Mining Corporation Plc’s ordinary shares trade on NYSE American and on the AIM market of the London Stock Exchange, both under the ticker CMCL, and also on the Victoria Falls Stock Exchange in Zimbabwe. The shares previously traded on the Toronto Stock Exchange, from which the company voluntarily delisted on 19 June 2020.
For the financial year ended 31 December 2025, Caledonia Mining Corporation Plc reported consolidated revenue of approximately US$267.7 million, an increase of around 46% on the prior year, and consolidated profit after tax of approximately US$67.5 million. Consolidated gold sales for the year were 79,075 ounces, of which 76,213 ounces were produced at the Blanket Mine. These figures are reported on a consolidated group basis rather than for the Jersey holding company alone.
Recent developments include the publication of the Bilboes feasibility study in November 2025 and the completion, in January 2026, of a US$150 million convertible senior notes offering intended to help fund development of the Bilboes project. At the company’s Annual General Meeting held on 5 May 2026, the Board announced a change of chairman.
- Company fundamentals
- Corporate linkage & group structures
- Digitized company financials
- Firmographics — websites, social profiles, revenue and employee estimates
Shareholders
5
Shareholders of Caledonia Mining Corporation Plc
Caledonia Mining Corporation Plc is a widely held public company whose ordinary shares trade on NYSE American, the AIM market of the London Stock Exchange, and the Victoria Falls Stock Exchange. On-file registry data, dated 2 August 2026, records twenty disclosed institutional shareholdings, of which the five largest are: iShares Russell 2000 ETF (approximately 7.87%), Goehring & Rozencwajg Associates, LLC (approximately 4.26%), Northern Trust Corporation (approximately 2.80%), Bridgeway Capital Management, Inc. (approximately 1.57%), and The Bank of New York Mellon Corporation (approximately 1.10%). These holdings reflect share-ownership disclosures rather than a complete shareholder register, and in the case of Northern Trust Corporation and The Bank of New York Mellon Corporation are likely to include custodial or nominee positions held on behalf of underlying beneficial investors rather than direct proprietary stakes.
As a company listed on multiple exchanges, Caledonia Mining Corporation Plc is required to disclose major shareholdings that cross applicable regulatory notification thresholds rather than its complete share register. This dataset should therefore be treated as institutional holdings above disclosure thresholds rather than a full account of all shareholders, including retail holders.
Data availability
Shareholder information for Caledonia Mining Corporation Plc is best described as Major shareholders only: institutional holdings above applicable disclosure thresholds are captured in the data reviewed (dated 2 August 2026), but the complete shareholder register, including holders below those thresholds, is not publicly available. No verified ultimate beneficial owner was identified in the sources reviewed; as a widely held listed company, no single shareholder was found to hold a controlling interest.
Sources
- On-file shareholder registry dataset, retrieved 2026-08-02
- Caledonia Mining Corporation Plc SEC filings (EDGAR, CIK 0000766011), https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000766011, retrieved 2026-09-16
| Shareholder | Type | Holding | Source Document |
|---|---|---|---|
| iShares Russell 2000 ETF | 7.9% | ||
| Goehring & Rozencwajg Associates, LLC | 4.3% | ||
| Northern Trust Corporation | 2.8% | ||
| Bridgeway Capital Management, Inc. | 1.6% | ||
| Bank Of New York Mellon Corporation | 1.1% |
Officers
14
Directors and officers of Caledonia Mining Corporation Plc
On-file registry data records five active officers for Caledonia Mining Corporation Plc, each with an address country of Jersey and no appointment or resignation dates given in the source: a Chief Executive Officer and Director; Adam Chester, Head of Risk & Compliance, General Counsel and Company Secretary (listed twice in the source under two record IDs); James Mufara, Chief Operating Officer; and Maurice Mason, Vice President of Corporate Development.
The on-file record for the Chief Executive Officer gives the first name as "John Learmonth." Public company announcements and the company’s own website instead identify the Chief Executive Officer and director as Mark Learmonth. This first-name discrepancy could not be resolved from the sources reviewed and is flagged as conflicting information rather than corrected.
Following Caledonia Mining Corporation Plc’s Annual General Meeting held on 5 May 2026, the Board announced that July Ndlovu had been appointed Chairman, succeeding John Kelly, who remained on the Board as a non-executive director. Nick Clarke did not stand for re-election as a director at that meeting and left the Board. Company announcements also identify J. Holtzhausen as a non-executive director and chairman of the Audit Committee, G. Wildschutt and G. Wylie as non-executive directors, and V. Gapare as an executive director; appointment dates for these roles were not confirmed in the sources reviewed.
Nationality is not disclosed in either the on-file registry data or the public announcements reviewed for this profile and has not been inferred from any officer’s name or recorded address. The Jersey address recorded in the on-file data is a correspondence address and should not be read as an officer’s nationality or personal residence.
Recent officer changes
- 5 May 2026: July Ndlovu appointed Chairman of the Board, succeeding John Kelly, who continued as a non-executive director. Source: company Annual General Meeting announcement.
- 5 May 2026: Nick Clarke did not stand for re-election as a director and left the Board. Source: company Annual General Meeting announcement.
Data availability
Officer information for Caledonia Mining Corporation Plc is Partial: the on-file data is a database snapshot without appointment or resignation dates, and nationality is not disclosed in any source reviewed. Recent board changes were corroborated through company announcements covering the 2026 Annual General Meeting.
Sources
- On-file officer registry dataset
- Caledonia Mining Corporation Plc, Notice of Annual General Meeting, SEC EDGAR filing, https://www.sec.gov/Archives/edgar/data/766011/000168316826002576/caledonia_ex9901.htm, retrieved 2026-09-16
- Company announcement, Results of Annual General Meeting and Appointment of New Chairman, https://www.accessnewswire.com/newsroom/en/metals-and-mining/caledonia-mining-corporation-plc-results-of-annual-general-meeting-and-appointmen-1163819, retrieved 2026-09-16
Registry feed — rows exactly as filed with the source register, including entries the profile above does not cover.
Group Structure
Group structure of Caledonia Mining Corporation Plc
Caledonia Mining Corporation Plc is the ultimate parent of a group focused on gold mining and exploration in Zimbabwe; no ultimate parent above Caledonia Mining Corporation Plc was identified in the sources reviewed. On-file corporate-linkage data records two UK-registered entities linked to the company: Greenstone Management Services Holdings Limited (company number 08014359), which UK Companies House confirms was incorporated on 30 March 2012 and was previously named Greenstone Management Services Limited, and Motapa Mining Company UK Limited (company number 13178541), which appears in the on-file data but was not independently re-verified against Companies House in this review. Ownership percentages for these entities were not disclosed in the sources reviewed.
Separately, Caledonia Mining Corporation Plc’s own SEC filings and website disclosures identify Blanket Mine (Private) Limited as the Zimbabwe-incorporated operating company holding the 64% Blanket Mine interest described in the company description; the specific chain of ownership between Caledonia Mining Corporation Plc and Blanket Mine (Private) Limited was not confirmed in the sources reviewed for this profile.
Verified corporate relationships
| Entity | Country | Registration number | Relationship | Ownership | Status | Information date |
|---|---|---|---|---|---|---|
| Greenstone Management Services Holdings Limited | GB | 08014359 | Affiliate (on-file linkage data; entity confirmed active at Companies House) | Ownership percentage not disclosed | Active | 2026-09-16 |
| Motapa Mining Company UK Limited | GB | 13178541 | Possible relationship (on-file linkage data; not independently re-verified) | Ownership percentage not disclosed | Not confirmed | 2026-08-11 |
| Blanket Mine (Private) Limited | ZW | Not disclosed | Possible relationship (referenced in company filings as operating subsidiary; internal ownership chain not confirmed) | Ownership percentage not disclosed (64% economic interest in the Blanket Mine reported at group level) | Active per company disclosures | 2025 |
Recent structural changes
- 2018: Caledonia Mining Corporation Plc increased its economic interest in the Blanket Mine from 49% to 64% by acquiring Fremiro Investments (Private) Limited’s 15% stake, settled through cancellation of a related loan and the issue of new Caledonia shares. Source: company announcement, 24 August 2018.
Data availability
Group-structure information for Caledonia Mining Corporation Plc is Partial: on-file linkage data provides two UK-registered entities, one of which is confirmed at Companies House, while the company’s own filings separately confirm a Zimbabwean operating subsidiary for the Blanket Mine without disclosing the full ownership chain or percentages.
Sources
- UK Companies House, Greenstone Management Services Holdings Limited (company number 08014359), https://find-and-update.company-information.service.gov.uk/company/08014359, retrieved 2026-09-16
- On-file corporate-linkage dataset, retrieved 2026-08-11
- Company announcement, Caledonia increases its shareholding in Blanket Mine to 64 per cent, https://www.globenewswire.com/en/news-release/2018/08/24/1556334/0/en/Caledonia-increases-its-shareholding-in-Blanket-Mine-to-64-per-cent.html, retrieved 2026-09-16
Caledonia Mining Corporation Plc
Jersey
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Frequently Asked Questions
What is Caledonia Mining Corporation Plc?
Caledonia Mining Corporation Plc is a Jersey-registered gold production, exploration and development company focused on Zimbabwe, whose principal asset is a 64% interest in the Blanket gold mine.
Where is Caledonia Mining Corporation Plc registered?
The company is registered in Jersey under registration number 120924, with a registered office in St. Helier.
When was Caledonia Mining Corporation Plc incorporated?
On-file registry data records 19 March 2016 as the incorporation/continuance date, when the company moved from Canada to Jersey; shareholder approval for the move was obtained in February 2016.
What stock exchanges is Caledonia Mining Corporation Plc listed on?
Its shares trade on NYSE American and the AIM market of the London Stock Exchange, both under the ticker CMCL, and on the Victoria Falls Stock Exchange in Zimbabwe. The shares previously traded on the Toronto Stock Exchange until the company delisted on 19 June 2020.
What does Caledonia Mining Corporation Plc do?
It produces gold at the Blanket Mine in Zimbabwe and is developing the Bilboes gold project, alongside the Motapa and Maligreen exploration claims.
Who is the Chief Executive Officer of Caledonia Mining Corporation Plc?
Public company announcements identify Mark Learmonth as Chief Executive Officer and a director. On-file registry data separately records a Chief Executive Officer entry under the first name John, a discrepancy that could not be resolved from the sources reviewed.
Who is the current Chairman of Caledonia Mining Corporation Plc?
Following the company's Annual General Meeting on 5 May 2026, July Ndlovu was appointed Chairman, succeeding John Kelly, who remained on the Board as a non-executive director.
What percentage of the Blanket Mine does Caledonia Mining Corporation Plc own?
Caledonia holds a 64% interest in the Blanket gold mine, following a 2018 transaction that increased its stake from 49% by acquiring a 15% interest from Fremiro Investments (Private) Limited; the remaining interest is held by Zimbabwean shareholders.
Does Caledonia Mining Corporation Plc publish a full public shareholder register?
No full public shareholder register was located. Available data covers major institutional holdings only, consistent with the disclosure thresholds applicable to a company listed on multiple exchanges.
What is the Bilboes project?
Bilboes is a large-scale gold development project in Zimbabwe, wholly owned by Caledonia Mining Corporation Plc, for which a feasibility study was published in November 2025.
What were Caledonia Mining Corporation Plc's most recent full-year financial results?
For the year ended 31 December 2025, the company reported consolidated revenue of approximately US$267.7 million and consolidated profit after tax of approximately US$67.5 million, on gold sales of 79,075 ounces.
Does Caledonia Mining Corporation Plc have any UK-registered subsidiaries?
On-file data and UK Companies House records confirm Greenstone Management Services Holdings Limited (company number 08014359) as a linked UK entity. A further linked entity, Motapa Mining Company UK Limited, appears in on-file data but was not independently re-verified in this review.
Was Caledonia Mining Corporation Plc previously incorporated in Canada?
Yes. The company was originally a Canadian corporation and was continued to Jersey in March 2016, retaining its AIM listing and, at the time, its Toronto Stock Exchange listing.
How is ownership of the Blanket Mine structured?
The Blanket Mine's shareholders are reported as Caledonia subsidiaries (64%), the National Indigenisation and Economic Empowerment Fund (16%), the Blanket Employee Trust (10%), and the Gwanda Community Share Ownership Trust (10%).
Has Caledonia Mining Corporation Plc raised capital recently?
Yes. In January 2026 the company completed a US$150 million convertible senior notes offering intended to help fund development of the Bilboes project.