Monday, 30th April 2007 (2331 views)

DRD Gold has announced that it may be reopening some of its idle gold mines in Johannesburg.

The firm wants to dig for uranium at the sites in order to take advantage of the current surging prices for the metal. The price of uranium has doubled since October and gold is also especially lucrative as its price has more than doubled in the last five years.

In a joint venture DRD Gold will work with Mintails and Mineral Mining & Reclamation Services to assess the reopening of the mine.

A spokesperson from DRD Gold said: "The joint venture's goal is to re-evaluate and restart mining in the West Rand gold field, situated in the Witwatersrand Basin.

"The Witwatersrand is arguably one of the greatest gold and uranium producing regions of the world."

South Africa is a good place to mine for both gold and uranium as it has the fifth biggest uranium reserves and is by far the biggest gold producing country in the world.

 

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