Competition Commission approves Blyvoor sale

The Competition Commission has unconditionally approved the sale of DRDGold’s 74% shareholding in Blyvooruitzicht Gold Mining Company (Blyvoor) to Village Main Reef. JSE-listed mining companies DRDGold and Village, which sent out a joint...

Village concludes binding deal to buy DRDGold’s Blyvoor

JSE-listed Village Main Reef has concluded a binding agreement to buy the Blyvooruitzicht (Blyvoor) gold mine from DRDGold for R1 and shares worth about R192-million. Village Main and DRDGold first announced the transaction in November last year.

Company Announcement: DRDGOLD, Village Enter Intp Blyvoor Sale of Shares and Claims Agreement

Johannesburg, South Africa. 13 February 2012. DRDGOLD Limited (DRDGOLD; JSE, NYSE: DRD) announced today that it has entered into a sale of shares and claims agreement with Village Main Reef Limited (Village) in respect of DRDGOLD’s 74% interest...

Company Announcement: Blyvoor Gives Notice of Section 189 (3) Process to Consider Employee Reduction

Johannesburg, South Africa. 6 February 2012. DRDGOLD Limited (DRDGOLD; JSE, NYSE: DRD) announced today that, following a recommendation from the Board of Directors of its 74%-owned Blyvooruitzicht Gold Mining Company Limited (Blyvoor), it has...

DRDGold shuts two Blyvoor shafts, may cut 1 800 jobs

JSE-listed DRDGold has suspended all mining at its 74%-owned Blyvooruitzicht Gold Mining’s (Blyvoor’s) low-grade No 4 and No 6 shafts, affecting up to 1 800 employees. This follows the shafts’ lack of response to business rescue turnaround...

Village may buy DRD’s Blyvoor gold mine for R1

Bernard Swanepoel’s Village may buy JSE-listed DRDGold’s Blyvooruitzicht gold mine for R1 in cash and R150-million in shares. JSE-listed Village also bought Consolidated Murchison for R1 last year.

Company Announcement: Blyvoor Business Rescue proceedings Terminated

DRDGOLD Limited announced today that the business rescue practitioner appointed to oversee business rescue proceedings in respect of its 74%-owned subsidiary

Village may buy DRD’s Blyvoor gold mine for R1

Bernard Swanepoel’s Village may buy JSE-listed DRDGold’s Blyvooruitzicht gold mine for R1 in cash and R150-million in shares. JSE-listed Village also bought Consolidated Murchison for R1 last year.

Company Announcement: Gold Production Steady, “Healthy” Rand Gold Price Received 82% Increase In Operating Profit; 150% Increase In HepS

DRDGOLD Limited today announced an increase of 82% in operating profit to R202.5 million and of 150% in headline earnings per share to 20 South African cents for the quarter ended 30 September 2011 compared with the previous quarter.

AngloGold to sell mining area to struggling Blyvoor

Gold major AngloGold Ashanti has agreed to sell 390 000 m2 of its Savuka mine to Blyvooruitzicht Gold to help the distressed DRDGold unit generate free cash flow. Blyvoor would buy the land, which falls outside AngloGold’s current mine, for...

Blyvoor starts business rescue process as DRDGold cuts lifeline

Blyvooruitzicht Gold Mining (Blyvoor) would begin a business rescue process after gold miner DRDGold suspended financial assistance to the 74%-owned subsidiary, which it is trying to sell. The process, which would allow for the appointment of a...

Gold may soar if US recovery fails, gold accessible from paid-for shafts, DRDGold to sell control of Blyvoor

The gold price could breach $2 000/oz by 2012/13, if a US economic recovery is not realised, says mining analyst Rene Hochreiter; 50-million ounces of Gold Fields’ South African gold can be accessed from current paid-for infrastructure; and...