The Board of Durban Roodepoort Deep, Limited (JSE: DUR; NASDAQ: DROOY; ASX: DRD) announced today (19 December 2003) that, with immediate effect, the roles of Chairman and Chief Executive Officer (CEO) have been split and an Independent Senior Non-Executive Director has been appointed.
Durban Roodepoort Deep, Limited announced today (24 November 2003) that it has concluded its acquisition of an effective 20% interest in the Porgera Joint Venture in Papua New Guinea from Oil Search Limited for US$73.30 million.
The Board of Durban Roodepoort Deep, Limited (JSE: DUR; NASDAQ: DROOY; ASX: DRD) has announced the appointment of Professor Douglas Blackmur, Professor of Management at the University of the Western Cape (UWC), as a non-executive director.
Durban Roodepoort Deep, Limited (JSE: DUR; NASDAQ: DROOY; ASX: DRD), announced today (14 October 2003) that it has reached agreement with Oil Search Limited (OSL) to acquire that company’s 20% interest in the Porgera Gold Mine (Porgera) in Papua New Guinea (PNG).
Durban Roodepoort Deep, Limited (“DRD” Ticker Symbol; JSE: DUR; NASDAQ: DROOY) has said that its discussions with the National Union of Mineworkers (NUM) today (1.10.03) on possible outsourcing of shafts at its troubled North West Operations (NWO) were “constructive” but would not stop the retrenchment of some 2 700 employees.
Durban Roodepoort Deep, Limited (“DRD” Ticker Symbol; JSE: DUR; NASDAQ: DROOY) announced a breakthrough today (23.09.03) with the National Union of Mineworkers (NUM) regarding efforts to save jobs at its troubled North West Operations (NWO).
Durban Roodepoort Deep, Limited (“DRD” Ticker Symbol; JSE: DUR; NASDAQ: DROOY) announced today (22.09.03) that 4 504 jobs at its North West Operations are to be shed.
With just five days to go until the expiry of the 60-day review at its North West Operations (NWO), Durban Roodepoort Deep, Limited (“DRD” Ticker Symbol; JSE: DUR; NASDAQ: DROOY), said today (17.09.03) that the “door was still open” to save another 1 650 jobs.
Durban Roodepoort Deep, Limited (“DRD” Ticker Symbol; JSE: DUR; NASDAQ: DROOY) and employee organisations UASA, Mine Workers Union (Solidarity) and SAEWA have reached a breakthrough agreement on proposals that could return two shafts to economic viability and save up to 1 550 jobs at the company’s Buffelsfontein Mine (Buffels).
Durban Roodepoort Deep, Limited (“DRD” Ticker Symbol; JSE: DUR; NASDAQ: DROOY) has raised an additional US$21.8 million (R161.4 million) from the exercise by the Investec Group (Investec) yesterday (10.09.03)
KPMG, auditors to Durban Roodepoort Deep, Limited (“DRD” ticker symbol; JSE: DUR; NASDAQ: DROOY), have scotched an affidavit by Gobodo Forensic Services (Pty) Limited (Gobodo) claiming DRD to be “in all likelihood commercially insolvent”.
Durban Roodepoort Deep, Limited (“DRD” ticker symbol; JSE: DUR; NASDAQ: DROOY) announced today (08.09.03) that it has raised $43 140 600 (R321.4 million) from the Investec Group’s exercising of an American call option on 18 million DRD shares, well ahead of the 3 October expiry date.
Management of Durban Roodepoort Deep, Limited (“DRD” Ticker symbol; JSE: DUR; NASDAQ:DROOY) today unveiled its plan to avoid the closure of the company’s North West Operations.
Durban Roodepoort Deep, Limited (“DRD” Ticker symbol; JSE: DUR; NASDAQ:DROOY) and the Investec Group have entered an agreement in terms of which Investec has secured an option to acquire 18 million new fully paid up DRD ordinary shares.
With effect from today, the shares of South African gold producer, Durban Roodepoort Deep, Ltd. “ DRD” (Ticker Symbol: JSE: DUR; NASDAQ: DROOY) have been included as a constituent of the benchmark Philadelphia Gold and Silver Index (the XAU).
Gold miner Durban Roodepoort Deep, Limited (DRD) today (18 August 2003) reached agreement on a 24-month wage deal with the National Union of Mineworkers (NUM) and flagged its intention to introduce an employee equity participation scheme.
A 7% strengthening of the Rand against the US Dollar and a consequent 8% drop in the Rand gold price received had shaved Durban Roodepoort Deep, Limited’s revenue by more than R42 million in the quarter ended 30 June, 2003, said Chairman and Chief Executive Officer Mark Wellesley-Wood today (Thursday, 24 July 2003) at a briefing on the company’s results for the quarter and year-end.
In light of the continued weakness of the gold price in Rand terms and following extensive management actions, Durban Roodepoort Deep, Limited is forced to enter into a 60-day review which may impact on the future of its North West Operations.
Durban Roodepoort Deep, Limited (DRD) has awarded a R100 million contract for the upgrading of the South Plant at its North West Operations near Stilfontein to South African engineering firm, MAED.
Durban Roodepoort Deep, Limited (DRD) is pleased to announce that strike action that began with the nightshift on May 20 2003 at its Buffelfontein mine (Buffels), part of the company’s North-West Operations near Stilfontein, has ended.
Stronger Rand, lower production hits financial performanceSARB POLICY, MONEY BILL WILL CURB GOLD MINING GROWTH, SAYS DRD CHIEF The SA Reserve Bank’s current “tight monetary discipline” was described today (29 April 2003) as seemingly “at odds with South Africa’s reliance on export growth, the attainment of full employment and social redistribution”, by the Chairman and Chief Executive Officer of Durban Roodepoort Deep, Limited (DRD), Mark Wellesley-Wood.
Durban Roodepoort Deep Limited, its Chairman and CEO Mark Wellesley-Wood, the company’s auditors, Deloitte & Touche, and others succeeded on Thursday (17 April 2003) with their application to the High Court in Johannesburg for the dismissal of the Anton Piller order granted to Roger and Brett Kebble and others by the Court on 20 February 2003.
Following public speculation that the gold production of Durban Roodepoort Deep, Limited, (DRD) for the March 2003 quarter may be substantially below par, the company has decided it prudent to release its production figures for the quarter, ahead of the release of its full operating and financial results on Tuesday, 29 April, 2003.
MONEYWEB: Durban Deep is a gold mining share that has brought new meaning to the word “volatility”, or perhaps [the expression] “falling like a stone”. We will find out what gives from DRD investor relations executive, Ilja Graulich.
MINEWEB: Our other top story we’ve been looking at over the last little while is Durban Deep and we’ll touch on that in a moment, but today the share price of Durban Deep dropped by 16%. Chairman Mark Wellesley-Wood is with us.
Durban Roodepoort Deep, Ltd (JSE: DUR; ASX: DRD) has taken further steps in its ongoing recovery of funds misappropriated from the group during the 2000 financial year.
Durban Roodepoort Deep, Limited refers to the following announcement made today (Monday, 31 March, 2003) by Crown Gold Recoveries (CGR), regarding the underground fire at the Far East Vertical Shaft of CGR’s ERPM Mine:
In response to questions raised by the JSE Securities Exchange South Africa (“the JSE”) at a meeting held on Tuesday, 18 March 2003, the company wishes to state the following:
DRD confirms that the March quarterly results, due for release at the end of April, will be affected by the strengthening of the South African Rand against the US Dollar and, to a lesser degree, by the four-week fire at the company’s 40% held ERPM gold mine.
Durban Roodepoort Deep, Limited (DRD) confirms that it received a letter of resignation late yesterday (Tuesday, 18 March) from its in-house legal advisor, Ms Benita Morton.
Durban Roodepoort Deep, Limited, through its legal advisors, has notified its former company secretary, Maryna Eloff, who resigned last week, that the company intends to institute action for damages against her, consequent upon allegations contained in her resignation letter.
Durban Roodepoort Deep, Limited (DRD) has appointed Blackfriars Court as interim project manager of Argonaut, its 30 million ounce, deep-level gold mining project on the central Witwatersrand, south of Johannesburg.
Durban Roodepoort Deep, Limited’s Chairman and Chief Executive Officer, Mark Wellesley-Wood, confirmed today (Monday, 10 March 2003) that it was “firmly” the company’s intention to oppose an ex parte order obtained against DRD and others by Roger and Brett Kebble and others on 20 February.
As part of its drive to improve the human capital of its business, Durban Deep has awarded five bursaries to deserving students in the fields of mining, engineering and metallurgy.
Durban Roodepoort Deep, Limited’s North West Operations – comprising Hartebeestfontein and Buffelsfontein gold mines – have notched up one million fatality-free shifts, thus becoming the latest winner of the Mine Health and Safety Council’s Millionaire Shield.
Durban Roodepoort Deep, Limited (DRD) refers to an announcement earlier today (3.2.03) by Crown Gold Recoveries (Pty) Limited (CGR) regarding an underground fire at the Far East Vertical Shaft of CGR’s East Rand Proprietary Mines Limited (ERPM) at the weekend.
The appointment of Durban Roodepoort Deep, Limited's Chief Financial Officer Ian Murray to the post of Deputy Chief Executive Officer was among several Board and senior management changes announced on behalf of the Board today (Thursday, 30 January 2003) by Chairman and Chief Executive Officer Mark Wellesley-Wood.
Assisted by a higher gold price received and a gain on financial instruments, Durban Roodepoort Deep, Limited (DRD) reported a 54% increase in earnings per share to 12.3 US cents in the quarter ended 31 December 2002, Chairman and Chief Executive Officer Mark Wellesley-Wood announced today (Thursday, 30 January).
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