DRDGold's production up 1% in quarter
JOHANNESBURG (miningweekly.com) – Surface gold mining company DRDGold on Wednesday reported a 1% quarter-on-quarter increase in gold production to 1 453 kg, on a 1% increase in tonnage throughput.
DRDGold’s principal subsidiaries are Ergo, its flagship metallurgical plant located 50 km east of Johannesburg, in Brakpan; and Far West Gold Recoveries, near Carletonville, west of Johannesburg.
In an operational update for the three months to the end of September, the Johannesburg- and New York-listed company reported a 4 kg decrease in gold sold to 1 442 kg. This resulted in cash operating costs per kilogram increasing 2% from the previous quarter to R658 530/kg. Cash operating costs per tonne of material processed remained stable at R133/t.
All-in sustaining costs per kilogram decreased 14% quarter-on-quarter to R755 201/kg, on a 68% decrease in sustaining capital expenditure. All-in costs per kilogram were a 9%-lower R796 255/kg quarter-on-quarter.
Adjusted earnings before taxes, interest, depreciation and amortisation decreased by 19% from the previous quarter to R386.4-million, owing primarily to an insurance claim of R84.7-million recognised in the previous quarter.
Cash and cash equivalents decreased by R280.5-million to R2 245.1-million after payment of the final cash dividend of R342.5-million for the year to the end of June.
The cash generated during the current quarter will go towards the extended capital expenditure programme for the 12 months to the end of June next year.
A favourable position remains for the declaration of an interim cash dividend.
As Mining Weekly reported in August, DRDGold has paid consecutive financial year dividends for 15 years, distributing a total of 60c a share in the previous financial year.
In the financial year now under way, it intends investing R700-milion, up on the previous financial year's R584.1-million.
Ergo and the Knights plant in Germiston comprise what may well be world’s largest gold surface tailings retreatment facility.
Together with the milling and pump station at Crown Mines and City Deep – both former plants – these operations treat approximately 1.7-million tonnes a month (t/m).
Far West Gold Recoveries, acquired from Sibanye-Stillwater in 2018, increased gold reserves by 90%. The Driefontein plant 2 has a capacity of 600 000 t/m and Driefontein 4 tailings storage facility a capacity of 525 000 t/m.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation