COVID-19 UPDATE: DRDGOLD’S RESPONSE TO THE NATIONAL LOCKDOWN
Early this morning I watched reports on BBC news regarding the escalation of the Coronavirus around the world. In many countries, the infection rate has overtaken the capacity of national health services.
DRDGOLD’s priority in dealing with COVID-19 is the health and safety of our employees.
Doctors and nurses are under immense pressure and are becoming infected and dying. In some countries, people seem oblivious to the risk, the fact that health services are collapsing notwithstanding. Their situation may soon become irreversible.
This is the situation that we need to avoid at all costs and the measures that South Africa’s President announced last night give us the best possible chance of doing so. Only by responding positively to his call will we avoid a catastrophe similar to what has befallen those that have left it too late.
It is important however that we don’t panic and that we come out in full support of the measures President Ramaphosa announced to curb the spread of the virus.
To this end, we will implement measures over the next few days to temporarily halt production and to place our operations in a state of care and maintenance whilst maintaining essential services.
We will do what is required to secure our assets, prevent any harm to the environment and ensure that we can start operations up again as seamlessly as we possibly can, once the lockdown is lifted.
We are now working toward a completely different set of goals than that which we set out to achieve at the beginning of the year. Our priorities now are staying healthy, keeping our families and loved ones safe and preserving our business.
It is essential that we have a business to return to, and more importantly, that we all return to our posts once this is over. We are in a position to do this, having built up a solid cash position over the last 12 months.
I have called upon my colleagues throughout the company not to panic; rather, to be innovative, put the right plans in place, give their implementation their full support and continue to set the right example by demonstrating leadership.
It goes without saying that we will continue to encourage the practice of sound hygiene and social distancing.
All the best.
Chief Executive Officer
24 March 2020
Presentation: The Astrologers Fund Conference (PDF - 1.51MB)
Presentation: Results the six months ended 31 December 2019 and dividend declaration (PDF - (984KB)
Presentation: 121 Mining Investment Conference (PDF - 2.74MB)
Presentation: HSBC Africa Conference, Cape Town (3.55MB)
DRDGOLD is a South African gold producer and a world leader in the recovery of gold from the retreatment of surface tailings. Our network of assets is unrivalled in South Africa and, with our consolidated businesses operating as a single entity, is focused on optimising these assets in order to increase gold production.
At the end of FY2018, DRDGOLD provided jobs for 2 304 people, including 878 permanent employees. The remaining 1 426 people worked for the specialist service providers engaged by the company to provide the expertise required for tailings reclamation and tailings dam management. In FY2018, the company produced 150 423oz of gold, generated R2 490.4 million in revenue, spent R1 452.7 million on capital projects (property, plant, equipment, surface) and 191ha of rehabilated land were lodged for clearance for redevelopment. Mineral Resources of 7.3Moz and Mineral Reserves of 3.3Moz were declared
This website, developed by the Minerals Council South Africa which supports and promotes the South African mining industry, provides resources for teachers and learners to reinforce, enhance and extend learning. The content aligns with the Grade 12 Economic Geography of South Africa: Mining section of the South African Department of Basic Education's Curriculum and Assessment Policy Statement (CAPS).