DRDGold lifts output and cuts costs in March quarter
The group’s costs and debt levels fall as it nears completion of a large new tailings project
Tailings retreatment specialist DRDGold lifted production in the March quarter and lowered its all-in costs as it put the bulk of its investment in a new project behind it and started reaping the benefits. DRDGold concluded a deal in 2018 to acquire tailings dumps, a processing plant and a deposition site from Sibanye-Stillwater in exchange for a 38% stake in the tailings company. The new Far West Gold Recoveries business promises to be a game changer for DRDGold, giving it 82% more reserves, which now stand at about 6-million oz of gold. DRDGold poured R188m into the Far West business during the December quarter, a number which reflected in the very high all-in cost of R732,394/kg against a received gold price of R564,218/kg.
PODCAST: The growing power of class action lawsuits..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.