DRDGold announces 15% upswing in production
DRDGold recently posted a 15 percent surge in production for the March quarter as the Far West Gold Recoveries (FWGR) project that it bought after selling shares to Sibanye-Stillwater ramps up.
The company strengthened by 5.8 percent on the JSE to trade at R2.92 a share recently after saying the quarter-on-quarter production improvement was primarily due to an 11 percent increase in tonnage throughput.
The share closed at R2.91. DRDGold, one of South Africa’s oldest gold tailings retreatment companies, said the higher production came as the FWGR project ramped up towards the planned throughput of 500 000 tons a month from its phase 1.
It expected the final commissioning of phase 1 to be completed before the end of the current financial year. The company also said overall yield increased by 4 percent compared to the previous quarter due to higher grade material being processed at the FWGR project.
Related Posts
Africa50 Appoints Djalal Khimdjee as new CEO, Principal Investment Fund
Africa50, the pan-African infrastructure investment platform, has appointed Djalal Khimdjee as Chief Executive Officer of its Africa50 Principal Investment Fund (formerly Africa50…
By
New: KenGen Green Energy Park Attracts Sixth Investor in Naivasha
Kenya Electricity Generating Company (KenGen) has welcomed a sixth investor to its Green Energy Park in Naivasha, reinforcing the facility’s…
Coronation Merchant Bank Appoints New CEO
Coronation Merchant Bank has appointed Obeahon Ohiwerei as its new Managing Director and Chief Executive Officer following a no-objection approval…
BUA Foods Eyes Market Leadership with new Multi-Billion Expansion Programme
BUA Foods has unveiled the largest investment programme in its history as it seeks to become Nigeria’s biggest…
Gallery
