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DRD denies reports of mine closure, production cuts

Details

Published: Friday, 31 May 2002 02:00

For immediate release

Durban Roodepoort Deep, Limited Chairman and Chief Executive Officer Mark Wellesley-Wood has strongly denied reports which began circulating yesterday that the company was "set to lose over 40% of its refined gold production this year due to the exhaustion of a mine".

"The report, erroneously attributed to Reuters, began surfacing in internet chat rooms yesterday," Wellesley-Wood said today. "Attribution to an unnamed senior CVRD official may suggest confusion between DRD and CVRD."

Wellesley-Wood said that, contrary to the report, DRD was in a growth phase, details of which had been communicated to the market. Specifically, there had been no production problems in the month of May.

"I want to give our shareholders, employees and potential investors an emphatic assurance that DRD anticipates no mine closures or production cuts," Wellesley-Wood said.

Queries: James Duncan, Russell & Associates

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