Media releases

DRDGOLD declares 40 SA cents per share interim dividend

Capex, growth plans continue apace. Johannesburg, South Africa. 16 February 2021. DRDGOLD Limited (DRDGOLD; JSE, NYSE: DRD) has declared an interim dividend of 40 South African cents per share for the six months ended 31 December 2020.

Revenue increased by 41% to R2,977.4 million and operating profit rose by 100% to R1,441.8 million, due largely to the average Rand gold price received, 42% higher at R988,998/kg. Total cash operating costs for the Group were 10% higher at R1,518.8 million.

The higher gold price received substantially offset the impact of a 2% decline in overall gold production, attributable mainly to a 6% lower production of 715kg at Far West Gold Recoveries (FWGR). This was due to reclamation taking place by and large in the lower-grade central portion of the Driefontein No. 5 dump.

Increased capital expenditure on projects at the Ergo and FWGR operations accounted partly for higher all-in sustaining costs (AISC) at both – 14% up to R650,915/kg at Ergo and 40% up to R365,070/kg at FWGR.

At Ergo, reclamation began from the 4L30 dump, a fourth residue line to the Brakpan Tailings Storage Facility (TSF) was installed and smaller, more manoeuvrable cyclones at the Brakpan TSF were added. At FWGR, the upper compartment of the Driefontein No 4 TSF was converted to cyclone deposition and irrigation infrastructure for dust-inhibiting vegetation of the TSF was completed.

Work on a definitive feasibility study and planning for the FWGR Phase 2 project continued apace in the period under review. The amended design for the regional TSF was submitted to the Department of Water and Sanitation in November 2020.

Commenting on the first six months of FY2021, CEO Niël Pretorius said: “We are, despite the challenges of COVID-19, an erratic Eskom and some fierce weather comfortably tracking toward the upper range of our FY2021 production guidance of 185,000oz and well within the cash operating cost guidance of approximately R535,000/kg.”

“Further, we have managed – in particular with FWGR – to continue our growth trajectory. The gold price outlook and the performance of the business allow us to take a bolder view on the design parameters of Phase 2 in terms of volume throughput and deposition capacity, to position it strongly for regional consolidation. At Ergo, planning work on increasing deposition capacity is well advanced.”

“Much about the pandemic’s passage – in South Africa and the world – remains uncertain. All of our capital investment strategies, therefore, are viewed with due regard to the potential volatility and risk associated with this.”


As previously advised in the announcement published on the Stock Exchange News Service of the JSE on Thursday, 29 October 2020, DRDGOLD filed its Annual Report on Form 20-F for the year ended 30 June 2020 (the “2020 Annual Report”) with the United States Securities and Exchange Commission (the “SEC”) on Thursday, 29 October 2020.

The 2020 Annual Report can be downloaded from the SEC’s website ( and is also available on DRDGOLD’s corporate website ( Hard copies of DRDGOLD’s complete 2020 audited financial statements can be provided, free of charge, upon request.

Direct queries to:

James Duncan

R&A Strategic Communications
+27 (0) 11 880 3924 (office)
+27 (0) 79 336 4010 (mobile)
This email address is being protected from spambots. You need JavaScript enabled to view it.

Taryn van Olden

R&A Strategic Communications
+27 (0) 11 880 3924 (office)
+27 (0) 79 527 6882 (mobile)

COOKIES: This site uses cookies to enhance your website experience. See our privacy policy for further details.