DRDGOLD Holds Output Steady as Vision 2028 Targets 25% Gold Growth

DRDGOLD, a South African gold producer, maintained its gold production at 155,000 ounces in the latest financial year while advancing plans to increase output by 25% by fiscal 2028. The company's Vision 2028 program consists of five projects aimed at increasing throughput and extending mine lives.

DRDGOLD operates two units: Ergo Mining Proprietary Limited, which has a current throughput capacity of 1.6 million tons per month, and Far West Gold Recoveries, which processes about 500,000 tons per month. The company uses high-pressure water jets to turn tailings material into slurry, which is transported through pipelines to processing plants.

Financial results showed that cash operating costs were just under $1,800 per ounce, while all-in sustaining costs were just under $2,000 per ounce. DRDGOLD recovered nearly 156,000 ounces of gold and reported an all-in sustaining margin of 53% for fiscal 2026.

Niël said the company's loan facility for the capital expansion program remained undrawn because it was cash positive. The company prioritizes sustaining capital expenditure, followed by growth spending, maintaining liquidity and dividends. DRDGOLD provides shareholders with full exposure to movements in the gold price, making costs relatively predictable.