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Driefontein decline

This page is under review. For the latest information, please refer to our Integrated Annual Report 2018, released on 29 March 2019.

A feasibility study completed in 2015 confirmed that mining below current infrastructure has the potential to extend Driefontein’s operating life from 2028 to 2042, producing an additional 2.1Moz of gold.

The feasibility study project capital was estimated at R1,126 million in 2017 terms.

The feasibility study for the Driefontein below infrastructure decline project was approved by the Board for project execution in November 2015. Capital expenditure of R298.9 million (US$22.5m) was initially approved in 2017. However, following a cash conservation strategy at the SA Gold operations, only R37 million (US$2.8m) was spent on 275 metres of development.

The project team have subsequently completed a contract adjudication exercise for an accelerated mine plan by a specialist mining and construction contractor. This will be motivated for the Board’s consideration in August 2018.