DRDGold lifts Q2 gold yield, profit
JOHANNESBURG (miningweekly.com) – In a production update on Wednesday, DRDGold posted a quarter-on-quarter improvement in gold production of 4%, an increase in operating profit of 17% and a drop in all-in sustaining costs of 14%.
The increase in gold production was the result of a 9% increase in the average yield, which offset a 4% drop in throughput.
In the quarter under review, construction of the flotation/fine-grind (FFG) circuit at Ergo’s Brakpan plant was completed, with full production through this circuit under way in January.
Meanwhile, for the half-year ended December 31, gold production was down 8% compared with the first six months of the 2013 financial year – the combined effect of a “solid” second quarter in the 2013 fiscal year and a poor first quarter in the 2014 fiscal period.
Cash operating profit was down 62% on the back of the drop in production, a 14% rise in all-in sustaining unit costs and a 9% decline in the average gold price received.
“We are pleased that production [is] back up, but we would have preferred to have had the FFG circuit fully operational by the end of December. That is what we told the market we were aiming for. Unfortunately, delays in getting the last of three thickeners up and running pushed final commissioning back by at least three weeks,” commented CEO Niel Pretorius.
DRDGold’s full operating and financial results for the quarter and six months ended December 31 would be released on February 11.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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

















