Corporate profile

DRDGOLD Limited (DRDGOLD) is a mid-tier, unhedged gold producer, and the fourth largest gold company in South Africa. In 2010, the company produced 241 194 ounces and declared attributable Mineral Resources of 60.0 million ounces and attributable Mineral Reserves of 7.3 million ounces.

The company holds a 74%-interest in operating subsidiary Ergo Mining Operations (Proprietary) Limited. The balance is held by black economic empowerment (BEE) partner Khumo Gold SPV (Pty) Limited (Khumo Gold) (20%) and the DRDSA Empowerment Trust (6%).

The operations are Blyvooruitzicht Gold Mining Company Limited (Blyvoor), East Rand Proprietary Mines Limited (ERPM), Crown Gold Recoveries (Pty) Limited (Crown), Ergo Mining (Pty) Limited (Ergo JV) and ErgoGold are jointly referred to as ERGO. At present, 68% of production comes from surface retreatment and this is set to increase.

With its head office in Johannesburg, DRDGOLD has its primary listing on the JSE Limited and its secondary listing on the NYSE. At year-end, the company had 384 884 379 ordinary shares in issue and a market capitalisation of R1.3 billion (US $167.4 million).