6:59pm on Jul 03, 2020
DRDGOLD is a JSE-listed (Ticker code: DRD) gold producer and specialist in the recovery of metal from the retreatment of surface tailings. It has a proven track record of optimizing innovative technology-driven processing and demonstrated expertise in surface processing infrastructure development.
In August 2018 a transaction between DRDGOLD and Sibanye-Stillwater was completed, whereby Sibanye-Stillwater traded selected assets from its WRTRP project (now DRDGOLD Far West Gold Recoveries – FWGR) for a 38.05% shareholding in DRDGOLD. Effective on 22 January 2020, Sibanye-Stillwater increased its holding in DRDGOLD from a 38.05% to 50.1% equity interest; securing the majority holding. This acquisition is key to our surface operations strategy in South Africa, which involves leveraging existing surface operations and infrastructure and developing a strong, long life surface business by exploiting the low risk and relatively high margin characteristics of West Rand surface resources.
DRDGOLD’s surface operations comprise the Ergo plant and associated TSFs located 70km east of Johannesburg near Benoni and Brakpan, the Crown operations situated on the outskirts of Johannesburg including City Deep (Germiston), Crown Mines (3Cs) and Knights areas and lastly the Far West Gold Recoveries on the West Rand of the Gauteng province in the vicinity of Randfontein, Westonaria, Fochville and Carletonville, The FWGR includes historical TSFs with a total area of 412ha and includes the Driefontein 1 and 2 gold plants.
DRDGOLD intends to develop the selected assets into a large scale (1.2Mtpm), long life (20 years) operation to reclaim gold through a phased approach. Phase one commenced in December 2018 and has reached steady state production. Planning for the phase two expansion is in progress.
Our gold operations consist of underground mining and surface treatment facilities in the Witwatersrand Basin.
We work to avoid, minimise and mitigate any negative environmental impacts where we operate.
An archive of news and publications related to the DRDGOLD transaction, completed 31 July 2018.