HomeGoldPossible announcement on DRD retrenchments today

Possible announcement on DRD retrenchments today

ERPM mine
Johannesburg, South Africa — MININGREVIEW.COM — 20 January 2009 – DRDGold Limited – the fourth-largest gold producer in Africa – is hoping to make an announcement as early as today on retrenchments at its now closed East Rand Proprietary Mine (ERPM).

“We’re close to concluding the consultation process and we hope to make a declarative statement on Tuesday,” said spokesperson James Duncan.

DRDGold closed the loss-making mine in November because it was unable to pump water from the mine’s only producing shaft, and it was no longer safe to blast at the mine’s underground operations.

Regarding the sale of the mine, Duncan said that DRDGold would have to carefully study the 10 formal expressions of interest that had been received. Potential buyers would have to perform due diligence studies to make formal offers, and this process could take weeks or even months.