DRDGold lifts output and cuts costs in March quarter

07 May 2019 - 10:23The processing facilities and water filtration beds at the Ergo gold recovery plant, run by DRDGold, as seen from the air in Brakpan. Picture: BLOOMBERG

The new Far West Gold Recoveries business promises to be a game changer for DRDGold, giving it 82% more reserves, which now stand at about 6-million oz of gold. DRDGold reported a quarter-on-quarter doubling to R58.3m of its adjusted earnings before interest, tax, depreciation and amortisation , which is not a recognised accounting metric but one used by DRDGold's lenders in loan agreements. The company owns the Ergo plant in Brakpan, 50km east of Johannesburg. The plant can treat up to 2.1-million tons of tailings a month and draws material from more than 700-million tons of tailings in and around Johannesburg.

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