DRDGOLD, which mines gold dumps around Johannesburg, said yesterday that while its core profit decreased in the quarter ended March 31, 2022, due to rising costs, it was still set to declare a final dividend in August.
Gold miner DRDGold’s production decreased by 3% quarter-on-quarter to 49 066 oz for the three months ended March 31, primarily owing to a 5% decrease in tonnage throughput.
DRDGOLD said it remained “in a favourable position” to declare a year-end dividend in August following third (March) quarter production numbers in which it disclosed an increase in cash of R70.4m.
Cash-flush DRDGold, one of the world’s largest gold tailings retreatment companies, says its core profit dipped in its third quarter amid rising costs and a decline in production, but it remains on track to shell out a final dividend.
Management said it positions the company favourably to consider declaring a final cash dividend in or around August 2022, in the absence of unforeseen circumstances
DRDGOLD is the only South African mining company involved solely in the retreatment of surface gold tailings and is one of the oldest JSE-listed companies. Coupled with our performance in HY2022, the company bears testimony to the resilience of a business model that has been several years in the making.
‘This is a company with a well-developed ability to survive, and survival is key.’ – Niël Pretorius in the 2022 edition of Miningmx’s Rainmakers & Potstirrers
Mining companies listed on local and global bourses are not normally associated with the informal sector, but association is very real in the case of DRDGold. The Johannesburg- and New York-listed surface gold mining company, led by CEO Niël Pretorius, is going all out to develop the informal economy, especially around the sites where it operates.
JOHANNESBURG (miningweekly.com) – Johannesburg has a unique history. If not for mining, there would be no city. The mines, however, did not come to the city, rather the city came to the mines.
Every Friday, SAfm’s radio anchor Sakina Kamwendo speaks to Martin Creamer, publishing editor of Engineering News & Mining Weekly. Reported here is this Friday’s At the Coalface transcript:
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SMI - Swiss Mining Institute 2 November 2021 (PDF - 3.63MB)
Annual Integrated Report 2021 (PDF - 11.94 MB)