https://www.miningweekly.com
Financial|Fire|Gold|Mining|Power|PROJECT|Transformer|Transformer
Financial|Fire|Gold|Mining|Power|PROJECT|Transformer|Transformer
financial|fire|gold|mining|power|project|transformer-company|transformer

DRDGold’s Q2 production down 5% q/q

1st February 2019

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

Font size: - +

DRDGold’s production decreased by 5% quarter-on-quarter in the second quarter ended December 31, primarily as a result of an 8% drop in tonnage throughput.

The lower throughput from Ergo Mining, a joint venture between DRDGold and Mintails, was mainly the result of power interruptions experienced over 11 days during the second quarter, caused by a fire at an Eskom substation, a lightning strike on the Brakpan tailings complex transformer yard and load-shedding by the Johannesburg metropolitan municipality.

Meanwhile, early-stage commissioning of the company’s new Far West Gold Recoveries (FWGR) project started on December 6, 2018. The project is expected to start contributing to overall production in the second half of the financial year to June 30, 2019.

FINANCIAL PERFORMANCE

DRDGold expects to report a loss a share of 5.8c to 8.6c for the six months ended December 31.

This compares with earnings a share of 14.4c for the six months to December 31, 2017.

It also expects to report a headline loss a share of 5.8c to 8.7c for the six months under review, compared with headline earnings a share of 14.3c for the prior comparable period.

The expected decrease in earnings and headline earnings a share are primarily owing to the costs incurred for the commissioning and start of the FWGR, as well as a 3% year-on-year decrease in gold production.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Showroom image
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 
Immersive Technologies
Immersive Technologies

Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
Updated 6 hours ago
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.159 0.198s - 90pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: