AngloGold Ashanti to Sell Savuka Mining Area to DRDGold
AngloGold Ashanti has decided to sell about 390,000 square meters of its Savuka mining area to Blyvooruitzicht Gold Mining. The deal will bring cash to the tune of 35 million Rand (US$5.1 million) allowing the company to deal with their operating cash flow problems in the distressed DRDGold unit.
The Chief Executive Officer of DRDGold, Niel Pretorius said that they were grateful to AngloGold Ashanti for this show of good neighbourliness and pragmatism. He added that he believed there may be potential for Blyvoor to generate significant free cash flow by mining the Savuka ground, which will help to restore its 'going concern' status, an important consideration for prospective lenders and suitors.
The sale is subject to regulatory approval from the South African government. If it does come through it will be a shot in the arm for DRDGold which has suspended financial help to the 74% owned subsidiary that it is hoping to sell since June. It will allow the unit a good chance to get back on its feet. It would avoid the potential loss in jobs in the community.
The area that is being offered for sale is not in the boundaries of the current mine that AngloGold Ashanti is operating in the region. Blyvoor will mine the area under a contract. AngloGold Ashanti released a statement saying that it believes that the transaction offers a 'win win' for both companies and the communities in which they operate.
Written by
Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.
Please use one of the following formats to cite this article in your essay, paper or report:
APA
Scanlon, Joel. (2019, March 19). AngloGold Ashanti to Sell Savuka Mining Area to DRDGold. AZoMining. Retrieved on February 01, 2026 from https://www.azomining.com/News.aspx?newsID=4500.
MLA
Scanlon, Joel. "AngloGold Ashanti to Sell Savuka Mining Area to DRDGold". AZoMining. 01 February 2026. <https://www.azomining.com/News.aspx?newsID=4500>.
Chicago
Scanlon, Joel. "AngloGold Ashanti to Sell Savuka Mining Area to DRDGold". AZoMining. https://www.azomining.com/News.aspx?newsID=4500. (accessed February 01, 2026).
Harvard
Scanlon, Joel. 2019. AngloGold Ashanti to Sell Savuka Mining Area to DRDGold. AZoMining, viewed 01 February 2026, https://www.azomining.com/News.aspx?newsID=4500.
We're committed to providing free access to quality science. By registering and providing insight into
your preferences you're joining a community of over 1m science interested individuals and help us to
provide you with insightful content whilst keeping our service free.
or
Terms
While we only use edited and approved content for Azthena
answers, it may on occasions provide incorrect responses.
Please confirm any data provided with the related suppliers or
authors. We do not provide medical advice, if you search for
medical information you must always consult a medical
professional before acting on any information provided.
Your questions, but not your email details will be shared with
OpenAI and retained for 30 days in accordance with their
privacy principles.
Please do not ask questions that use sensitive or confidential
information.
Read the full Terms & Conditions.