At the existing gold price of R533,914/kg DRDGold is close to the "sweet spot" where price, volumes, costs and extraction efficiencies converge, CEO Niël Pretorius said on Wednesday. At a presentation on the sidelines of the Investing in African Mining Indaba, Pretorius said the group was guiding production of about 136,000oz-140,000oz of gold in the year to June as first-half yields were slightly lower than expected. Above-normal costs were incurred in cleaning up two old sites on the West Rand, the Crown plant and C-slimes area. He said the rate and consistency of DRDGold’s processing was expected to return to normal from March. In the year ahead, DRDGold would focus on turning its current eight-year mine plan into a 15-year plan and do more work on improving plant efficiency, he said. It has just commissioned two new reclamation sites on old slimes dams and will commission a third in the next few weeks. The share price, which soared to R12.62 on the JSE after the UK voted to exit...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now