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Gold/Mining/Energy : Mining News of Note

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To: LoneClone who wrote (74357)	1/22/2011 3:15:58 PM
From: LoneClone	Read Replies (1) of 193161

DRDGold expects 6% rise in second-quarter gold output miningweekly.com By: Loni Prinsloo 21st January 2011 JOHANNESBURG (miningweekly.com) - JSE-listed DRDGold on Friday said that it expected gold production for the quarter ended December 31, 2010, to be about 6% higher than the previous quarter, mainly owing to improved operational performance. Gold production for the quarter was estimated at around 69 400 oz, which would be up from the 65 277 oz of gold produced in the previous quarter. The gold miner said that the additional output was linked to a steady performance at its Crown and Ergo surface retreatment operations and an improved performance at its Blyvoor underground operation. DRDGold also said that a stronger gold price and a quarter free of State-owned power utility Eskom’s higher winter tariffs would see cash operating costs drop by about 11%. However, capital expenditure would be about 31% higher, reflecting the development of the Crown-Ergo pipeline. The company started the construction of the R300-million pipeline and plant expansion project in September last year. DRDGold would release its official quarter and half-year report on February 10.

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