DRDGold to advance operations

South African gold miner, DRDGold, is looking at advancing its operations in Zimbabwe, where it is already a 50 percent partner in an early-stage gold exploration project.

Niël Pretorius, the company’s Chief Executive Officer, reported recently that while DRDGold’s focus remained South Africa, it would continue to look at neighbouring countries, mainly Zimbabwe, for opportunities.

“In Zimbabwe we have accumulated a substantial number of hectares for exploration, many of them on the site of historical mining and current artisanal mining activities,” said Pretorius in the company’s recently-released Integrated report for the year ended June 30, 2011.

“It is too early to say what may come of this, but it makes good sense to be looking in prospective areas that can be easily accessed from Johannesburg. We will take advantage of the political risk discount of gold ounces in Zimbabwe, and continue to grow our portfolio of leases there.”

He said that Zimbabwe provided the most affordable gold in Africa, and that his company’s approach of focusing on near-surface deposits that are accessible through mobile, modular technology could give them a major head start in the country.

Post published in: Business

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