In April 2007, DRDGOLD SA, Mintails and Mineral and Mining Reclamation Services (Pty) Limited (MMRS) formed a joint venture company to evaluate surface and underground exploitation of their combined West Rand properties – the old Rand Leases, Durban Roodepoort Deep, East Champ D’Or, Luipaardsvlei and West Rand Consolidated mines. DRDGOLD SA and Mintails each own 45% of the JV, and MMRS the remaining 10%. It is intended that the JV company will be listed on the Australian Stock Exchange to raise at least R42.5 million. A subsequent listing is envisaged on the JSE Limited.
The JV’s initial aim is to explore and evaluate surface gold and uranium resources while concurrently delineating pillar reserves and other underground areas that have not been mined. Deeper exploration programmes will be designed during 2008.
