DRDGOLD Ltd. (NYSE:DRD) cited progress at the Far West Rand district in South Africa, saying its new project there got off to a good start.
Construction started in August, and the surface tailings company met its targeted start of commissioning, CEO Daniel Pretorius said on a conference call Wednesday.
“We're quite pleased with what we're seeing in terms of metallurgical recoveries, quality of ore body and volume throughput,” he said.
He cited challenges with the Far East Rand district, saying the company felt the impact of power supply interruptions.
Pretorius added that its Ergo plant launched three projects including the 4L50 reclamation site, which Pretorius said “is doing well.”
Shares of the company declined US$0.02 to US$2.13 in Thursday’s New York trading.
Earlier this week, the company said it was looking forward to the contribution from its Far West Gold Recoveries project in the second half of 2019.
Contact Dennis Fitzgerald at [email protected]