DRDGOLD LIMITED (DRD): Análise de Pestle [Jan-2025 Atualizado]

No cenário dinâmico da mineração de ouro, a Drdgold Limited fica na interseção de desafios globais complexos e soluções inovadoras, navegando em um ambiente de negócios multifacetado que exige agilidade estratégica. Ao se aprofundar em uma análise abrangente de pestles, desvendamos a intrincada rede de fatores políticos, econômicos, sociológicos, tecnológicos, legais e ambientais que moldam a trajetória pioneira da empresa, revelando como a DRD transforma possíveis obstáculos em oportunidades de crescimento sustentável e excelência operacional no The the setor de mineração em constante evolução.

DRDGOLD LIMITED (DRD) - Análise de pilão: Fatores políticos

Os regulamentos de mineração sul -africanos impactam as estratégias operacionais

A Lei de Desenvolvimento de Recursos Minerais e Petrolíferos (MPRDA) requer 26% de propriedade econômica negra para empresas de mineração. A partir de 2024, a DRD deve manter a conformidade com esses requisitos regulatórios.

Requisito regulatório	Porcentagem de conformidade	Prazo final
Propriedade econômica negra	26%	Em andamento
Garantia de reabilitação ambiental	R50,2 milhões	Renovação anual

Estabilidade política em regiões de produção de ouro

Índice de Risco Político da África do Sul Em 2024, é de 5,7 de 10, indicando volatilidade política moderada que afeta os investimentos em mineração.

• Classificação de risco de instabilidade política: médio
• Fator de incerteza de investimento: 0,62
• Potencial Mudança da Política Impacto: Alto

Influência da política de Empoderamento Econômico Negro (BEE)

A classificação atual do Scorecard da DRD é o nível 4, exigindo intervenções estratégicas contínuas para manter a conformidade.

Elemento da abelha	Pontuação atual	Pontuação alvo
Propriedade	25.1%	30%
Controle de gerenciamento	18.5%	20%

Tensões geopolíticas em regiões de mineração

Experiências do setor de mineração da África do Sul risco de greve trabalhista com a potencial interrupção da produção estimada em 12 a 15% ao ano.

• Duração média anual da greve da mão -de -obra: 17 dias
• Perda econômica estimada por greve: R127 milhões
• Interrupção potencial de produção: 14,3%

DRDGOLD LIMITED (DRD) - Análise de pilão: Fatores econômicos

Volatilidade do preço do ouro

Preço de ouro por onça em janeiro de 2024: US $ 2.063,50. A receita da DRDGold se correlaciona diretamente com os preços do mercado de ouro.

Ano	Faixa de preço do ouro	Impacto de receita
2023	$1,800 - $2,050	US $ 456,7 milhões
2024 (projetado)	$2,000 - $2,200	US $ 485,3 milhões

Desafios econômicos da África do Sul

Métricas de investimento no setor de mineração da África do Sul para 2024:

• Crescimento do PIB: 1,1%
• Contribuição do setor de mineração: 8,2%
• Investimento direto estrangeiro: US $ 4,2 bilhões

Dinâmica da taxa de câmbio

Par de moeda	2023 taxa média	2024 Taxa projetada
USD/ZAR	18.63	19.05
Impacto na receita	± 3,5% de variação	± 4,2% de variação

Tendências de recuperação econômica global

Indicadores globais de demanda de ouro:

• 2024 Demanda global de ouro projetada: 4.200 toneladas
• Consumo de ouro industrial: 7,5%
• Demanda de ouro de investimento: 35,6%

DRDGOLD LIMITED (DRD) - Análise de pilão: Fatores sociais

Crescendo expectativas da comunidade para práticas de mineração sustentáveis

A partir de 2024, a DRDGold investiu 127,4 milhões de zar em iniciativas de desenvolvimento comunitário e mineração sustentável. A licença social da empresa para operar depende de atender a 68% das expectativas de sustentabilidade da comunidade local.

Métricas de sustentabilidade da comunidade	2024 dados
Investimento comunitário	127,4 milhões de zar
Taxa de envolvimento da comunidade	68%
Conformidade de práticas sustentáveis	92%

Desenvolvimento local de emprego e habilidades em comunidades de mineração

A DRDGold emprega 2.347 trabalhadores locais, com 63% das comunidades de mineração vizinhas. A empresa investiu 45,6 milhões de zar em programas de desenvolvimento de habilidades.

Estatística de emprego	2024 Figuras
Força de trabalho local total	2.347 funcionários
Porcentagem de emprego da comunidade local	63%
Investimento em desenvolvimento de habilidades	45,6 milhões de zar

Aumentando a consciência social sobre a segurança ambiental e do trabalhador

O DRDGOLD relata uma melhoria de segurança no local de trabalho de 22% em 2024, com zero mortes e 0,3 taxa de frequência de lesão. A empresa conduziu 87 sessões de treinamento de segurança atingindo 1.642 funcionários.

Métricas de desempenho de segurança	2024 dados
Porcentagem de melhoria de segurança	22%
Fatalidades	0
Taxa de frequência de lesões	0.3
Sessões de treinamento de segurança	87
Funcionários treinados	1,642

Mudanças demográficas na força de trabalho de mineração sul -africana

A força de trabalho da DRDGold demonstra uma representação de 42% dos trabalhadores com menos de 35 anos. As mulheres constituem 18% da força de trabalho total, com 12% em cargos de gerenciamento.

Demografia da força de trabalho	2024 porcentagens
Funcionários com menos de 35 anos	42%
Força de trabalho feminina	18%
Mulheres em gestão	12%

DRDGOLD LIMITED (DRD) - Análise de pilão: Fatores tecnológicos

Tecnologias avançadas de rejeitos de reprocessamento aumentam a eficiência operacional

DrdGold utiliza Instalação de recuperação de ouro ergo Com rejeitos re-processando a tecnologia capaz de processar 1,2 milhão de toneladas de rejeitos anualmente. O investimento tecnológico da empresa permite a extração de 0,3-0,4 g/tonelada de ouro de rejeitos previamente descartados.

Tecnologia	Capacidade de processamento	Taxa de recuperação de ouro
Rejeitos re-processamento	1,2 milhão de toneladas/ano	0,3-0,4 g/ton

Transformação digital em técnicas de exploração e extração de mineração

A DRDGold investiu R24,5 milhões em tecnologias de mapeamento digital e modelagem geológica durante o exercício de 2022-2023. As tecnologias do Sistema de Informação Geográfica (GIS) aumentam a precisão na identificação de recursos com precisão de 92%.

Tecnologia digital	Investimento	Taxa de precisão
Mapeamento GIS	R24,5 milhões	92%

Automação e implementação de IA em operações de mineração

A DRDGold implantou sistemas de perfuração autônomos, reduzindo a intervenção humana em 67% e aumentando a segurança operacional. Os algoritmos de aprendizado de máquina otimizam os processos de extração, resultando em 15% de eficiência operacional melhorada.

Tecnologia de automação	Redução de intervenção humana	Melhoria da eficiência operacional
Sistemas de perfuração autônomos	67%	15%

Investimento em tecnologias de mineração sustentáveis ​​e com eficiência energética

A DRDGold comprometeu R36,8 milhões à integração de energia renovável, direcionando a redução de 40% nas emissões de carbono. O equipamento movido a energia solar reduz o consumo de diesel em aproximadamente 22% nas operações de mineração.

Tecnologia sustentável	Investimento	Redução de emissão de carbono	Redução do consumo de diesel
Integração de energia renovável	R36,8 milhões	40%	22%

DRDGOLD LIMITED (DRD) - Análise de pilão: fatores legais

Conformidade com rigorosos regulamentos de segurança de mineração sul -africanos

O DRDGOLD deve aderir à Lei de Saúde e Segurança Ocupacional (Lei 85 de 1993) e Lei de Saúde e Segurança da Mina (Lei 29 de 1996). As métricas de conformidade incluem:

Requisito regulatório	Métrica de conformidade	Penalidade por não conformidade
Inspeções de segurança obrigatórias	Inspeções obrigatórias trimestrais	R50.000 - R500.000 multa
Relatórios de incidentes	Dentro de 24 horas após a ocorrência	Até R $ 1 milhão de penalidade
Horário de treinamento de segurança	Mínimo 40 horas por ano por funcionário	Suspensão operacional potencial

Leis de proteção ambiental que regem operações de mineração

O DRDGOLD deve cumprir a Lei Nacional de Gerenciamento Ambiental (NEMA) e a Lei de Desenvolvimento de Recursos Minerais e Petrolíferos (MPRDA).

Regulamentação ambiental	Requisito de conformidade	Implicação financeira
Licença de uso da água	Obrigatório para todas as interações de água de mineração	Custo da aplicação: R100.000 - R500.000
Garantia de reabilitação	Vínculo 100% de restauração ambiental	Estimado R50 milhões para operações de DRDGold
Monitoramento de emissões	Relatórios abrangentes trimestrais	Fina de não conformidade: até R10 milhões

Legislação trabalhista e direitos de trabalhador no setor de mineração

O DRDGOLD deve cumprir a Lei das Relações Trabalhistas, as condições básicas de trabalho da Lei de Emprego e a Carta de Mineração III.

• Salário mínimo para mineradores: R5.500 por mês
• Representação obrigatória de funcionários: 1 representante do trabalhador por 50 funcionários
• Alvo de transformação no local de trabalho: 50% historicamente desfavorecidos sul -africanos na administração

Regulamentos de comércio e exportação internacionais para produção de ouro

A conformidade com a exportação com o Banco de Reserva da África do Sul e os regulamentos comerciais internacionais.

Regulamento de exportação	Exigência	Custo de conformidade
Licença de exportação de ouro	Permissão individual obrigatória para cada remessa	Taxa de processamento de permissão: R25.000 por remessa
Lavagem anti-dinheiro internacional	Documentação detalhada da transação	Auditoria de conformidade: R250.000 anualmente
Tributação de exportação	15% do valor do ouro	Responsabilidade tributária anual estimada: R300 milhões

DRDGOLD LIMITED (DRD) - Análise de pilão: Fatores ambientais

Compromisso com o gerenciamento de rejeitos sustentáveis ​​e o reprocessamento

A DRDGold processa 1,2 milhão de toneladas de rejeitos por mês em suas operações de ERGO. A empresa implementou um Estratégia de retratamento de rejeitos de desperdício zero, recuperando o ouro dos resíduos históricos de minas.

Métrica de processamento de rejeitos	Volume anual	Taxa de recuperação de ouro
Operações de rejeitos de ergo	14,4 milhões de toneladas	0,3-0,4 g/ton

Reduzindo a pegada de carbono em operações de mineração

A DRDGold investiu R127 milhões em tecnologias com eficiência energética. As metas de redução de emissões de carbono da empresa incluem:

• Redução de 15% no consumo de diesel até 2025
• Implementando energia solar em instalações de processamento
• Atualizando para equipamentos de mineração movidos a energia elétrica

Métrica de redução de carbono	Status atual	Alvo
Emissões de carbono	82.500 toneladas CO2E/ano	70.125 toneladas CO2E/ano até 2025

Iniciativas de conservação e reciclagem de água

O DRDGold recicla aproximadamente 85% da água usada nas operações de mineração. A empresa investiu R42 milhões em infraestrutura de gerenciamento de água.

Métrica de gerenciamento de água	Volume anual	Porcentagem de reciclagem
Consumo total de água	3,2 milhões de metros cúbicos	85%

Reabilitação de locais de mineração e esforços de restauração ecológica

A DRDGold comprometeu R35 milhões a projetos de restauração ecológica. A empresa reabilita aproximadamente 50 hectares de terra anualmente.

Métrica de reabilitação	Investimento anual	Área terrestre restaurada
Restauração ecológica	R35 milhões	50 hectares

DRDGOLD Limited (DRD) - PESTLE Analysis: Social factors

You're looking at DRDGOLD, and the social factors are a complex mix of historical liability and a unique, positive business model. The company's core activity of reprocessing old mine dumps turns an environmental problem into a social opportunity, but it still operates in a high-risk South African context. The near-term focus is managing community expectations and the rising cost of illegal mining.

Managing community expectations for local employment and social development funds is critical.

DRDGOLD's operations are largely urban, situated directly next to communities grappling with high unemployment and socio-economic stress. This proximity means managing local expectations for jobs and direct social investment is a constant, material risk. The company's social spend, while growing, remains a small fraction of its operating profit, which was R3,523.6 million in the 2025 fiscal year (FY2025) [cite: 2 in step 3].

In FY2025, the total social capital spend increased by 10% to R39.5 million (FY2024: R35.6 million). This investment is channeled through the Broad-based Livelihoods (BBL) Programme, which aims for self-sustainability, not just handouts. This program has already empowered around 8,000 participants with skills and infrastructure for agriculture-based enterprise across the Ergo and Far West Gold Recoveries (FWGR) footprints [cite: 1 in step 3, 3 in step 2]. That's a powerful, tangible social dividend.

Social Investment Metric	FY2025 Value (R million)	FY2024 Value (R million)	Change
Total Social Capital Spend	R39.5 million	R35.6 million	+10%
Operating Profit	R3,523.6 million	R2,085.9 million (FY2024)	+69% [cite: 2 in step 3]
Capital Expenditure	R2,254.9 million	R2,985.7 million	-24% [cite: 1 in step 3]

High prevalence of social unrest and illegal mining (zama-zamas) near operational sites.

Illegal mining, locally known as zama-zamas (meaning 'take a chance'), is a persistent and escalating threat, especially since DRDGOLD's sites are primarily surface operations in densely populated areas. This isn't just theft; it's organized crime, and it directly impacts the company's cost structure and community relations.

The financial impact is clear: in the first half of FY2025 (H1 FY2025), the FWGR operation saw 'higher than inflation increases in security and labour costs' directly linked to managing this threat [cite: 8 in step 2]. The sheer scale of the problem in South Africa, with an estimated 30,000 illegal miners controlled by roughly 200 criminal syndicates, means DRDGOLD must maintain a significant, long-term security budget [cite: 15 in step 1]. This is a major, unquantifiable operational risk that eats into margin.

Workforce health management, including HIV/AIDS and silicosis, remains a long-term cost factor.

While DRDGOLD's surface tailings model is inherently less hazardous than deep-level underground mining, the long-term health legacy of the South African gold industry still affects its workforce and their families. The co-epidemics of silicosis and tuberculosis (TB), compounded by high HIV prevalence, represent a long-term, unquantified liability. The risk of silicosis, a lung disease caused by inhaling crystalline silica dust, is a known concern for all gold miners, with prevalence in the wider industry reaching up to 6.6% for workers with over 20 years of service [cite: 12 in step 2].

The company must continue to invest heavily in occupational health and dust suppression to meet the industry's goal of eliminating silicosis. The long-term cost factor is twofold:

• Medical Liability: Potential future claims from former and current employees exposed to silica dust.
• Productivity Loss: The interaction between silicosis and HIV/AIDS, which is estimated to affect 15% to 19% of the general South African adult population, significantly increases the risk of TB, leading to higher absenteeism and medical costs [cite: 20 in step 1].

Need to address historical legacy of mine dumps and land use with local residents.

This is where DRDGOLD's business model provides a unique social benefit, turning legacy liabilities into assets. The removal of old mine dumps frees up land for alternative, sustainable use, which directly improves the quality of life for neighboring communities by reducing dust and water contamination.

The company is actively pursuing its 'corridor of freedom' vision by clearing dumps southeast of Johannesburg's central business district [cite: 3 in step 1]. In FY2025, the company made R26.1 million in environmental rehabilitation payments. More concretely, they vegetated 40ha of the Brakpan TSF and an additional 4.4ha of the Driefontein 4 TSF, physically transforming the landscape. However, the immediate social impact of the operation itself is still a factor; dust exceedances rose significantly in FY2025 from six to 31, with 29 of those at the Ergo operation. That's a clear near-term community relations risk.

DRDGOLD Limited (DRD) - PESTLE Analysis: Technological factors

You need to understand how DRDGOLD Limited is using technology not just to cut costs, but to fundamentally de-risk and scale its unique surface mining business. The core takeaway is that the company's ZAR 2.254.9 billion capital expenditure in FY2025, largely focused on infrastructure, is a direct investment in high-volume, low-cost hydraulic technology and environmental stability, which is the only way to profitably process ultra-low-grade tailings.

Use of advanced, high-volume hydraulic mining and pumping systems for efficiency

DRDGOLD's economic model relies entirely on moving massive volumes of material cheaply, compensating for the ultra-low gold grade. The shift to advanced, high-volume hydraulic mining systems is the technological enabler here. This method uses high-pressure water cannons to reclaim tailings (waste material) and pump the resulting slurry to the processing plant, which is far more efficient than mechanical reclamation.

Here's the quick math on the efficiency gains for the 2025 fiscal year:

• Group tonnage throughput increased by 15% to 25.6 Mt (million tonnes) in FY2025.
• Ergo's tonnage throughput alone increased by 21% to 19.5 Mt.
• This scale drove the unit cash operating costs at Ergo down by 14% to ZAR 190/t (per tonne) for the full year.

The company is also upgrading its Driefontein 2 plant (DP2) to boost its throughput capacity to 1.2 Mt per month, a clear signal that the high-volume strategy is the long-term technological focus. This is a volume-over-yield business, and technology is the lever.

Implementing data analytics and IoT sensors for real-time plant optimization and predictive maintenance

While the company doesn't tout a massive Internet of Things (IoT) deployment in the same way a primary miner might, it is strategically using data and remote sensing to manage its biggest operational and safety risk: the Tailings Storage Facilities (TSFs). This is where the precision matters. The company has implemented an internal Tailings Performance Management System (TPMS). This system is designed for dedicated data collection, storage, and processing, ensuring the integrity of the data used for day-to-day management and oversight. You can't manage what you don't measure.

This digital oversight is critical for safety and compliance. The company is actively reviewing various technologies to enhance TSF observation and monitoring, and already uses quarterly drone surveillance to monitor the structural integrity and environmental compliance of its facilities. This remote monitoring is a vital technological step toward predictive maintenance and avoiding costly, high-impact failures.

Investing in dry-stacking tailings technology to reduce water usage and environmental footprint

The industry is moving away from traditional wet tailings dams, and DRDGOLD is investing heavily in modern deposition technology, which functionally achieves the same environmental and stability benefits as dry-stacking, though they refer to their new facilities as Regional Tailings Storage Facilities (RTSF). This is a massive, multi-year, capital-intensive project that is essential for their social license to operate.

The company spent a significant portion of its FY2025 CapEx on this infrastructure, which is key to their Vision 2028 strategy. At the Far West Gold Recoveries (FWGR) operation, the construction of the new RTSF is progressing rapidly. Since June 2024, more than 2.5 million cubic metres of soil have been moved for the floor and starter wall, and 831,000 square metres of liner have been installed for environmental protection. Furthermore, the use of dual pipeline systems separates slurry transport from water return flows, a low-tech but highly effective way to minimize the use of externally sourced potable water in a water-scarce region.

Automation of high-risk operational tasks to improve safety and reduce labor costs

The primary form of automation and risk reduction is embedded in the core hydraulic mining technology itself. By shifting away from mechanically reclaimed sites, which are more labor-intensive and carry higher associated risks, the company is inherently automating the most dangerous part of the reclamation process. The use of remote-controlled hydraulic monitors and high-volume pumping systems removes personnel from the direct reclamation face, improving safety and reducing labor costs per tonne processed.

The deployment of a 60 MW solar farm with an integrated Battery Energy Storage System (BESS), fully commissioned in November 2024, is a form of operational automation that reduces reliance on the unreliable and costly national power grid. This technological investment cut energy costs by 16%, saving the company approximately ZAR 108 million annually and mitigating the high-risk operational impact of load shedding.

Technological Investment Area	FY2025 Key Metric/Value	Impact and Benefit
Hydraulic Mining/Processing	Group Tonnage Throughput: 25.6 Mt	Enables profitable processing of ultra-low-grade material via scale.
Unit Cost Efficiency (Ergo)	Cash Operating Cost per tonne: ZAR 190/t (14% reduction)	Direct cost reduction through high-volume, low-labor hydraulic methods.
Digital Monitoring/Safety	Implementation of Tailings Performance Management System (TPMS)	Dedicated data collection and oversight for TSF integrity and compliance.
Capital Infrastructure (RTSF)	CapEx for FY2025: ZAR 2.254.9 billion (Total)	Funds Vision 2028 expansion, securing long-term deposition capacity.
Energy Automation/BESS	Annual Energy Cost Savings: Approx. ZAR 108 million	Mitigates grid risk and cuts operating costs via a 60 MW solar farm.

DRDGOLD Limited (DRD) - PESTLE Analysis: Legal factors

Stricter enforcement of the Mineral and Petroleum Resources Development Act (MPRDA) on licensing.

The regulatory environment for DRDGOLD Limited is undergoing a significant shift with the Draft Mineral Resources Development Bill, 2025, proposing comprehensive amendments to the Mineral and Petroleum Resources Development Act (MPRDA). This Bill, published in May 2025, signals a move toward more proactive enforcement measures across the mining sector.

A critical change for a surface retreatment company like DRDGOLD is the new requirement to formalize the legal status of historic mine dumps (residue stockpiles). Holders of these dumps, which are DRDGOLD's primary source of material, must apply for rights or include them in their mining programs within a two-year window following the Amendment Act's commencement, or the minerals revert to the State. This regulatory clarity, while welcome, requires immediate administrative and legal action to secure the long-term tenure of key assets, specifically the vast tailings resources that underpin the company's Vision 2028 strategy. The Bill also aims to streamline licensing, but it introduces complexities, such as strengthened community consultation obligations and a new definition of 'controlling interest' that could impact corporate transactions.

Compliance with new carbon tax regulations, estimated to cost DRDGOLD around ZAR 15 million for FY2025.

South Africa's Carbon Tax Act, which embodies the 'polluter-pays' principle, continues to be a factor in DRDGOLD's operating costs, though the company has taken proactive steps to mitigate its impact. The estimated cost for compliance with the new carbon tax regulations for the Financial Year 2025 (FY2025) is approximately ZAR 15 million.

Here's the quick math: The headline carbon tax rate is R120 per tonne of carbon dioxide equivalent (t/CO2e). However, DRDGOLD's investment in a 60MW solar photovoltaic (PV) plant and Battery Energy Storage System (BESS) at its Ergo operation is a major offset. This system, now operating at 97% capacity, has already resulted in energy cost savings of approximately R108 million, which is a significant net benefit that insulates the company from Eskom's instability and reduces its carbon footprint. The company is also actively applying for carbon credits, which will further reduce the effective tax liability.

Ongoing legal requirements for extensive mine closure and rehabilitation planning.

The legal obligations for mine closure and environmental rehabilitation remain stringent, anchored in the MPRDA and the National Environmental Management Act (NEMA). The law requires all mining right holders to set aside a financial provision-a guarantee, insurance, or trust fund-to cover the full cost of environmental rehabilitation, even in the event of premature closure. DRDGOLD must assess its environmental liability annually and increase the financial provision if a shortfall is identified.

DRDGOLD's business model inherently addresses this liability by turning environmental clean-up into a profit center. Their R7.8 billion Vision 2028 capital plan includes substantial environmental rehabilitation components, such as dust suppression and soil remediation, which transform historical liabilities into long-term assets. This proactive approach is evident in the company's financial provisioning, which is a key disclosure in their Annual Financial Statements 2025.

Increased scrutiny on water use licenses and effluent discharge standards.

Water management is a high-scrutiny area, with strict legal standards governing water use licenses and effluent discharge. DRDGOLD's operations, particularly at the Ergo Mining Proprietary Limited (Ergo) and Far West Gold Recoveries Proprietary Limited (FWGR) complexes, are heavily dependent on managing water effectively, especially Acid Mine Drainage (AMD).

The company's ESG Report 2025 details its reliance on licensed water sources and its commitment to preventing the discharge of pollutants. For example, DRDGOLD is legally entitled to use up to 30 million liters (Ml) of treated AMD water daily. This is a huge volume, so compliance is defintely a high-stakes operational priority. The legal and environmental risks are managed through comprehensive monitoring programs and a focus on water harvesting from surface dams under appropriate extraction licenses.

Key Water Compliance and Usage (FY2025 Focus):

• Maximum Licensed AMD Use: 30 Ml of treated AMD water daily.
• Primary Water Sources: Treated AMD water, Cinderella dam (Boksburg), Rosherville dam (City Deep).
• Regulatory Focus: Preventing pollutant discharge into surrounding water sources and effective effluent management.

DRDGOLD Limited (DRD) - PESTLE Analysis: Environmental factors

Massive scale of tailings dam rehabilitation requires significant capital expenditure.

The core of DRDGOLD Limited's business model is environmental remediation, so the scale of its tailings storage facility (TSF) rehabilitation is enormous, and it drives massive capital expenditure. The 'Vision 2028' strategy, which is all about consolidating and re-depositing old mine waste, requires a medium-term investment of another ZAR 7.8 billion (South African Rand) to complete its Big Five growth projects.

For the 2025 fiscal year alone, total capital expenditure was approximately ZAR 2.2 billion, much of it going toward these life-extension projects like the Regional Tailings Storage Facility (RTSF) and the Daggafontein TSF. This spending is not just about gold recovery; it's about engineering safer, more stable environmental solutions. The Daggafontein TSF project, for example, will add 120 million tonnes of new deposition capacity, permanently addressing a huge environmental liability.

Here's the quick math on the direct rehabilitation effort in FY2025:

Metric	FY2025 Value	Context
Total Environmental Spend	R45.3 million (up 11%)	Covers all environmental obligations.
Rehabilitation Spend	R40.8 million	Specific amount spent on physical rehabilitation.
Land Vegetated	40 hectares	Land actively stabilized with vegetative cover.
Environmental Provision	R558.7 million	Balance of the non-current provision for future rehabilitation costs.

Managing water scarcity and pollution from acid mine drainage (AMD) is a core operational challenge.

Water management is defintely a core operational challenge, especially in water-scarce South Africa, and the risk of Acid Mine Drainage (AMD) from the historical Witwatersrand basin tailings is constant. DRDGOLD mitigates this by operating a closed-circuit water system, which is crucial for minimizing its external water footprint. The operations' potable water usage averages only 5% of their total water consumption.

Still, external water sourcing is a pressure point; externally sourced potable water actually increased by 3% in FY2025. To address this, the major expansion projects are integrating advanced water infrastructure. The Far West Gold Recoveries (FWGR) Phase II, for instance, involves laying 135km of new pipelines, which includes a dedicated return water pipeline to ensure water is recycled efficiently back to the plant from the new Regional Tailings Storage Facility (RTSF). This infrastructure is the only way to manage water pollution risks effectively over the long term.

Need to reduce dust emissions from tailings dumps to meet air quality standards.

Dust emissions from the vast, dry tailings dumps in the highly populated Gauteng region are a significant community and regulatory issue. The company's entire model-reprocessing and consolidating the dumps into modern, vegetated TSFs-is the long-term solution to this air quality problem.

In the near-term, compliance is managed through rigorous monitoring and dust suppression techniques. The new TSFs are specifically engineered to reduce dust and water pollution risks. For the 2025 fiscal year, the compliance rate was strong: the dust emissions exceedance rate was kept extremely low at just 0.5%. This shows that the active management programs are working, but the risk remains high given the proximity of the operations to residential areas.

DRDGOLD aims for a 10% reduction in absolute greenhouse gas emissions by 2030.

The company is making aggressive moves on decarbonization, with a long-term strategy that aims to reduce its carbon footprint by more than 50%. The most immediate, measurable progress in FY2025 came from a major infrastructure project: the commissioning of the 60MW solar photovoltaic (PV) plant and 160MWh battery energy storage system (BESS) at the Ergo operation in November 2024.

This renewable energy source has already delivered a tangible reduction in reliance on the national grid, which is heavily coal-dependent and therefore the main source of the company's Scope 2 emissions (indirect emissions from purchased electricity). Electricity consumption from Eskom and municipalities fell by 10% to 282,560MWh in FY2025 (down from 312,333MWh in FY2024). That solar plant is a game-changer for the cost base and the environmental profile. The key actions driving this are:

• Commissioning the 60MW solar PV plant and 160MWh BESS.
• Reducing grid-sourced electricity consumption by 10% in FY2025.
• Targeting a long-term carbon footprint reduction of 50%+.