The most successful way to be a gold producer may be to not operate any mines.

At least, that’s the business model of DRDGold, the best-performing stock on the MSCI ACWI Select Gold Miners Investable Market Index in 2020. The company, which specialises in recovering gold from mine dumps in and around Johannesburg, has surged 277% in 2020, also making it the biggest gainer on SA’s FTSE/JSE Africa all share benchmark...

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