- Caledonia Mining posted a 14% bumper second-quarter profits as production growth was timid amid a 'difficult' quarter.

The miner produced 12,657 ounces, up 1.1% from the 12,521 ounces in the same three months a year earlier, while for the six months output totalled 25,582 ounces.

Net profit attributable shareholder rose by 275% to $2.6m from $694m.

All sustaining cost was higher at $856 per ounce in the second quarter, from $855.

The average realised price of gold for the quarter stood at $1,278, up from US$1,235 from the same quarter last year.

'The second quarter of 2018 was a difficult quarter for the business as production was adversely affected by lower than expected grade and tonnes mined,' said Steve Curtis, Chief Executive Officer. 'Production of 12,657 ounces was marginally higher than the second quarter of 2017 and in line with our expectations for our 2018 guidance range of 55,000 - 59,000 ounces.' ' 'Unfortunately, 2018 has been a time of disappointing safety performance for our business with two fatal accidents at Blanket, one in the first quarter and a second accident on the 12th of July 2018 after the second quarter's close.' Story provided by