[miningmx.com] – DRDGold is to sell mineral rights owned by its now closed gold mine, East Rand Properitary Mines or ERPM, to private company Walcott Capital for R220m, the company said in an announcement today.
The transaction, which will more than double DRDGold’s cash balance which last stood at R210m, has been a long time coming. The gold producer said in February 2013 that it intended to sell the mine which had been producing gold for over a century.
The buyer had also agreed to take on the cost of rehabilitation of both the surface and underground sections of the ERPM mineral rights.
