6:59pm on Aug 16, 2019
DRDGOLD Limited (DRDGOLD) carries on large scale, long life surface tailings gold recovery operations. We currently hold a 38.05% equity interest in the company acquired in August 2018 in exchange for certain tailings storage facilities and related assets while we also have an option to increase our equity ownership to 50.1% on or before August 2020.
DRDGOLD is a listed South African 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.
As of 31 December 2018, on a 38.05% attributable basis we have gold mineral reserves of 2.24 million oz and mineral resources of 18.58 million oz.
The August 2018 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.
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.