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DRDGOLD to list uranium venture Posted: Thu, 26 Apr 2007 [miningmx.com] -- BARELY a month since retreating from its Australasian assets, DRDGOLD is planning to list a uranium exploration and mining joint venture in Sydney and raise $6m for development of underground and opencast mines. DRDGOLD said in an announcement to the JSE that it planned to create a joint venture with Mintails, a listed Australian company and Mineral & Mining Reclamation Services (MMRS). The partners have agreed to consolidate their uranium and gold-bearing properties on the west Rand with production possible after about two years of development, DRDGOLD said. These properties included Rand Leases, Durban Roodepoort Deep, East Champ D'Or, Luipaardsvlei and West Rand Consolidated. Rand Leases was the mine vended into Durban Roodepoort Deep by Roger Kebble in the Nineties helping to create the company in its current form. The assets have produced gold totalling 30 million ounces and uranium oxide of some 17,000 tonnes. Mintails was created several years ago after buying DRDGOLD assets. It was enlarged after merging with Skeat Mining, a business owned by controversial mining entrepreneur, Peter Skeat. Its South African business, Mintails SA, will be DRDGOLD's direct joint venture partner. In terms of the proposals, DRDGOLD and Mintails SA will hold 45% each in the joint venture with MMRS holding the balance. The company would also take a secondary listing in Johannesburg. It will join Uranium One and First Uranium as the country's third uranium company. Click Here to subscribe to our daily newsletter
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