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Abandoned South African mine caused ‘catastrophe,’ rights group says

By: Bloomberg     27th January 2017 The closing of the Blyvooruitzicht gold mine in South Africa resulted in a humanitarian “catastrophe” and the government must protect the rights of residents who were neglected, according to an advocacy group. The mine, about 80 km (56 miles) west of Johannesburg, started production in 1942 and... 

AngloGold free cash soaring

By: Martin Creamer     14th November 2016 The generation of free cash by gold mining company AngloGold Ashanti is soaring. Free cash flow of $161-million in the third quarter is 54% higher than the free cash flow generated in the six months to June 30. 

Gold tailings retreatment an attractive proposition in current environment

By: Mia Breytenbach     14th October 2016 The strong performance of the rand gold price, increasingly lower ore grades mined in deeper underground mining operations and higher labour and electricity costs are underscoring the attractiveness of, and accelerating, gold tailings retreatment operations in South Africa, states gold miner... 

Gold digger turns alchemist chasing billions hidden in waste

By: Bloomberg     21st September 2016 With gold output in South Africa mired in a multiyear decline, the country’s biggest producer is turning to an overlooked and cheaper source of supply: the dump. About 6.5-million ounces valued at $8.5-billion is buried inside mammoth mounds of discarded mine waste at sites owned by  Sibanye... 

Resources Watch  

8th September 2016 Platinum industry not mining anywhere near forecast demand Roodepoort Rocket back as DRDGold pays off-charts dividend And, mining project enquiries on the rise 

Roodepoort Rocket back as DRDGold pays off-charts dividend 

By: Martin Creamer     30th August 2016 It will be tough for dump retreatment company DRDGold to beat this year’s results. The Johannesburg- and New York-listed company’s market capitalisation has rocketed from R700-million to  R3.7-billion in a matter of months, reminding investors of its Roodepoort Rocket nickname of old, because of... 

Resources Watch  

4th August 2016 World heading for shortage of physical gold; Fuel cell thrust continuing; And, supply and demand fundamentals remain challenging 

Resources Watch  

28th July 2016 Welcome to Creamer Media’s Resources Watch, a weekly video round-up of the events and people making and shaping the news in the mining industry. This week: De Beers partners with government to empower youth in diamond sector Local company outlines aspirations, challenges bigger players And,... 

World heading for shortage of physical gold – DRDGold  

By: Martin Creamer     25th July 2016 Confidence in the world order and the ability of governments to manipulate the value of fiat currency is seen to be diminishing, as is confidence in governments as credible sources of capital. What the world does in such circumstances is buy gold but there may not be enough gold to buy because of... 

Soaring DRDGold adds R14bn a year to economy as it turns waste to gold  

By: Martin Creamer     21st July 2016 By taking material that has been dumped as waste and turning it into gold, DRDGold is adding R14-billion worth of value a year to the South African economy and unlocking scarce real estate for gainful development, a visiting media contingent heard on Thursday. “[That is] R14-billion rands worth... 

DRDGold declares Q3 dividend

By: Natasha Odendaal     29th April 2016 Dual-listed DRDGold on Friday declared a dividend of 38c a share for the third quarter of the 2016 financial year. The group’s total distribution for the year to date was now 50c a share, when added to the 12c a share interim dividend declared in February, representing a 400% increase on the 10c... 

Drought likely to pose water challenges for mines in the medium term

By: Ilan Solomons     18th March 2016 There is no evidence of water supply concerns related to the current drought compromising mining operations in South Africa, the Department of Water and Sanitation (DWS) tells Mining Weekly. However, project management and engineering consultancy Royal HaskoningDHV mining director Berte Simons... 

Resources Watch  

By: Creamer Media Reporter      25th February 2016 Welcome to Creamer Media’s Resources Watch, a weekly video round-up of the events and people making and shaping the news in the mining industry. This week: New mining method nudging South Deep towards breakeven DRDGold posts higher H1 profit, output And, zero external funding a possibility for... 

DRDGold posts higher H1 profit, output 

By: Ilan Solomons     16th February 2016 Despite incurring a 15% increase in total cash operating costs for the six months ended December 31, surface gold miner DRDGold achieved a 1% increase in operating profit to R165.9-million, compared with the R164.1-million recorded for the six months to December 2014. Speaking at a presentation... 

Silicosis class action could spur reforms that usher in adequate, effective redress – lawyer 

By: David Oliveira     22nd January 2016 A decision by the South Gauteng High Court regarding the application for class action certification in the case of South African mineworkers who have contracted silicosis could have significant ramifications for the gold industry and fast-track much-needed legislative reforms to compensate... 

Resources Watch 

By: Creamer Media Reporter      10th September 2015 This week: Cash-flush DRDGold considers a share buy-back. Gas represents a R250-billion opportunity for South Africa. And, a new plasma pipe-cutting machine enters production. 

DRDGold considering share buy-back 

By: Creamer Media Reporter      4th September 2015 Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about surface gold miner DRDGold considering a buy-back of shares in support of its long-term shareholders. 

Cash-flush DRDGold mulling share buy-back 

By: Martin Creamer     1st September 2015 Surface gold mining company DRDGold, which has R324-million cash on hand after paying a five-times-higher dividend, is considering a buy back of shares in support of its long-term shareholders. DRDGold CEO Niël Pretorius, who has led a technical and financial turnaround of the gold-from-dumps... 

DRDGold dividend soars

By: Martin Creamer     1st September 2015 Gold dump mining company DRDGold on Tuesday lifted its dividend payout fivefold. In declaring a final dividend of 10 c a share in the year ended June 30, the Johannesburg and New York-listed surface miner dished out its eighth consecutive final dividend on results that CEO Niël Pretorius... 

Goldplat to clear processing backlog by December

By: Creamer Media Reporter      17th June 2015 Aim-listed Goldplat is making progress in finding alternative ways to process backlogged material, owing to the inability of a third-party refiner to process certain by-product material produced by subsidiary companies Goldplat Recovery Limited (GPL), in South Africa, and Gold Recovery Ghana... 

Health dept, gold industry launch compensation programme

By: Megan van Wyngaardt     29th May 2015 The Department of Health (DoH), along with eight current and historical gold mining companies, on Friday launched their Project Ku-Riha – meaning compensation in Tsonga. The project was aimed at tackling the backlog of compensation claims from mineworkers who suffered occupational lung diseases... 

Resources Watch  

By: Creamer Media Reporter      7th May 2015 This week: DRDGold records higher third quarter profit, production and sales. Mining companies are advised to invest in the future. And, simulation enhances the preparation of mining students. 

DRDGold records higher Q3 profit, production and sales 

By: Ilan Solomons     23rd April 2015 JSE- and NYSE-listed surface gold miner DRDGold’s operating profit increased by 16% quarter-on-quarter to R97.6-million for the quarter ended March 31, reflecting higher gold production and sales, as well as a stronger average rand gold price. Gold production for the third quarter of the 2015... 

DRDGold to issue 45.5m new shares, fully acquire Ergo Mining

By: Natalie Greve     26th March 2015 Following the fulfilment of all suspensive conditions, DRDGold expects to issue 45.5-million new shares and acquire the remaining 26% of Ergo Mining Operations (EMO) it did not already own on April 10. This followed a 2014 announcement in which the group stated its intention to enter into a share... 

Expanding Eastern Cape port moves to corner regional transshipment market 

By: Creamer Media Reporter      19th March 2015 From Creamer Media in Johannesburg, this is the Real Economy Report. Transnet Port Terminals has injected some R14-billion into the development of the purpose-built Ngqura container terminal in the Eastern Cape.  

Resources Watch  

By: Creamer Media Reporter      27th February 2015 This week: Sibanye eyes a R3-billion, 150 MW solar power station. DRDGold lifts its output 6% despite 67 hours of load shedding in December. And, the International Council for Mining & Metals says mines are the development engines for host countries. 

DRDGold moves to shave 10% off sourced potable water

By: Natasha Odendaal     25th February 2015 Surface gold miner DRDGold would start using wastewater as an alternative water source to replace some of the potable water currently used for Ergo Mining’s operations from July. Speaking to Mining Weekly Online during a site visit to the East Rand-based Ergo Mine, CEO Niel Pretorius said the... 

DRDGold lifts H1 output 6% despite 67 hours of load shedding in Dec 

By: Natalie Greve     19th February 2015 Despite experiencing some 67 hours of load shedding in the last month of 2014, specialist tailings miner DRDGold lifted gold output for the six months ended December 31 by 6% to 73 015 oz, attributing the uptick to increased metallurgical efficiencies at the long-embattled flotation fine-grind... 

DRDGold planning ‘grey’ water first for tailings upkeep, mining

By: Martin Creamer     14th January 2015 Surface gold miner DRDGold is planning to use treated wastewater rather than potable water for tailings upkeep and mining at its Crown Tailings complex. Digby Wells Environmental, which has been appointed by DRDGold’s Ergo Mining as its independent environmental consultant, stated in a newspaper... 

DRDGold Q1 output rises as Ergo glitches resolved

By: Natalie Greve     24th October 2014 Tailings gold miner DRDGold appears to have turned a corner, lifting gold output by 8% to 37 005 oz in the first quarter of the 2015 financial year. This after the gold producer experienced several successive quarters in which it battled inefficiencies, low yields and high costs associated with... 

Juniors out of favour, face uphill battle to generate own funds 

By: Natasha Odendaal     9th October 2014 Junior mining companies in South Africa have fallen out of favour with investors and have been left to find their own way to profitability, a panel at the 2014 Joburg Indaba revealed on Thursday. Debating the challenges of growing a junior mining project, Submex Investments MD Hugh Callaghan... 

Alecto appoints new executive chairperson

By: Leandi Kolver     3rd October 2014 Aim-listed West and East Africa-focused mineral exploration company Alecto Minerals on Friday announced the appointment of Mark Wellesley-Wood as nonexecutive chairperson with immediate effect. Wellesley-Wood, who was until recently a director within the corporate finance division of Investec... 

DRDGold to sell ERPM rights for R220m

By: Leandi Kolver     25th July 2014 Gold miner DRDGold on Friday announced that its 74%-owned subsidiary Ergo Mining Operations would sell the underground mining and prospecting rights held by East Rand Proprietary Mines (ERPM), as well as certain other assets on relating mining areas, to ERPM South Africa Holdings, a company... 

DRDGold CFO resigns

By: Leandi Kolver     21st July 2014 Francois van der Westhuizen has stepped down as CFO of gold miner DRDGold, with the company announcing on Monday that his resignation was effective July 18. The company, which on Monday also revealed that it expected to report a 13% quarter-on-quarter increase in gold production for the three... 

Resources Watch  

By: Creamer Media Reporter      22nd May 2014 Ergo is set to become a huge research site as DRDGold’s latest technology falters. A locally manufactured filtration system helps fight silicosis. And, Venmyn Deloitte says mining should adopt new oil and gas geological modelling methods. 

Ergo to become huge research site as DRDGold technology falters 

By: Martin Creamer     14th May 2014 The once thriving Ergo gold recovery plant on Gauteng’s East Rand will be turned into a massive real-time research centre in the three months to December as DRDGold strives to reboot its faltering new flotation/fine grind (FFG) circuit, which has caused gold output to nosedive instead of shoot... 

DRDGold plunges into loss as revenue, output fall and costs rise

By: Martin Creamer     14th May 2014 The revenue and output of the JSE-listed gold recovery company DRDGold fell in the three months to March 31, when all-in sustaining costs rose 24%. Earnings before interest, taxes, depreciation and amortisation were down from R46.3-million to R16.0-million, and a headline loss of 7c a share was... 

DRDGold performance to improve in Q2

By: Leandi Kolver     22nd October 2013 JSE-listed DRDGold’s financial performance was expected to improve over the next quarter as the commissioning of the new flotation/fine-grind circuit at the Brakpan plant of its Ergo operation was completed and the company moved toward stable operations, DRDGold CEO Niël Pretorius said on Tuesday.  

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