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Nedbank CIB backs DRDGold with R2bn for mining expansion

^{Published on 2024-12-13 02:00:48 - businesslive.co.za}
 

• Nedbank Corporate and Investment Banking (CIB) has committed up to R2bn in flexible financial solutions, comprising short- and long-term finance facilities, to support DRDGold Limited's ambitious capital investment programme over the coming years.

The article from BusinessLIVE discusses how Nedbank Corporate and Investment Banking (CIB) has provided DRDGold with a R2 billion funding package to support its mining expansion. This financial backing will enable DRDGold to enhance its operations, particularly in the reclamation of gold from mine dumps, thereby extending the life of its operations and increasing its gold production capacity. The funding is part of Nedbank CIB's strategy to support sustainable mining practices and contribute to economic growth in South Africa. The deal underscores the bank's commitment to the mining sector, which is seen as crucial for job creation and economic development. The expansion is expected to not only boost DRDGold's output but also to have positive environmental impacts by rehabilitating old mining sites.

Read the Full businesslive.co.za Article at:
[ https://www.businesslive.co.za/bd/companies/mining/2024-12-13-native-nedbank-cib-backs-drdgold-with-r2bn-for-mining-expansion/ ]

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