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  Driefontein

Driefontein

Driefontein’s No 1 plant during winter at dusk  
During financial 2010 Driefontein produced 709,800 ounces of gold at a cash cost of R168,568 per kilogram (US$692 per ounce) and an NCE of R225,208 per kilogram (US$924 per ounce).
During the next 12 months to end-June 2011 the outlook for Driefontein is to produce between 707,300 and 771,600 ounces of gold at a cash cost of between R170,000 and R185,000 per kilogram and an NCE of between R217,000 and R230,000 per kilogram.
Driefontein’s No 1 plant during winter at dusk    

The Driefontein Gold Mine, which is located 70 kilometers west of Johannesburg, near Carletonville in the Gauteng province of South Africa, has produced more than 100 million ounces of gold during its 50-year life. Despite its prolific production history, this mine still has 52.0 million ounces of gold Mineral Resources, which includes approximately 17.2 million ounces of Mineral Reserves. Driefontein is a large, well-established deep to ultra-deep-level gold mine with its lowest working level some 3,400 meters below surface. Geologically the Driefontein Gold Mine is located on the north western rim of the famous Witwatersrand Basin, one of the greatest gold regions of the world. Three primary reefs are exploited; the Ventersdorp Contact Reef (VCR) located at the top of the Central Rand Group; the Carbon Leader Reef (CL) near the base; and the Middelvlei Reef (MR), which stratigraphically occurs some 50 to 75 meters above the CL. The mine comprises eight producing shaft systems, that mine different contributions from pillars and open ground, and three gold plants of which one plant processes mainly underground ore, with the remaining two processing surface material.

Gold produced
(’000oz)
 
Hlanganani Shaft
Hlanganani Shaft
 
A machine operator holding a steel drill
A machine operator holding a steel drill
Gold produced (’000oz)    

    F2010 F2009 F2008 F2007 F2006

Main development

Advanced km 23.7 20.1 27.5 28.0 27.4

Main on-reef development

Advanced km 3.5 4.1 5.8 5.3 4.2

Value cm g/t 1,612 877 1,242 1,307 1,454

Area mined

  ’000m2 504 530 579 653 680

Productivity

  m2 /TEC* 2.4 2.6 2.8 3.2 3.4

Tonnes milled

Underground ’000 2,920 3,137 3,273 3,812 3,867

Surface ’000 3,164 3,080 2,708 2,840 3,000

Total ’000 6,084 6,217 5,981 6,652 6,867

Yield

Underground g/t 6.7 7.5 8.1 7.6 8.1

Surface g/t 0.8 0.7 0.8 1.0 1.4

Combined g/t 3.6 4.2 4.8 4.8 5.2

Gold produced

Underground kg 19,532 23,658 26,591 28,815 31,441

Surface kg 2,544 2,156 2,274 2,803 4,314

Total kg 22,076 25,814 28,865 31,618 35,755

Total ’000oz 710 830 928 1,017 1,150

Operating costs

Underground R/t 1,222 1,044 830 653 579

Surface R/t 84 83 79 65 60

Total R/t 630 568 490 402 352

Gold sold

  kg 22,076 25,814 28,865 31,618 35,755

Total cash cost

  US$/oz 692 448 412 348 315

  R/kg 168,568 129,837 96,293 80,457 64,870

Notional cash expenditure

  US$/oz 924 610 585 476 403

  R/kg 225,208 176,838 136,806 110,269 82,872

Net earnings

  Rm 850.5 1,421.3 1,233.3 1,004.3 645.0

Capital expenditure

  Rm 1,139.6 1,034.4 1,016.4 815.0 543.3

* TEC = total employees costed.