(Bloomberg) — The most successful way to be a gold producer may be to not operate any mines.
At least, that’s the business model of DRDGold Ltd., the best-performing stock on the MSCI ACWI Select Gold Miners Investable Market Index this year. The company, which specializes in recovering gold from mine dumps in and around Johannesburg, has surged 271% in 2020, also making it the biggest gainer on South Africa’s FTSE/JSE Africa all share benchmark.
“Everybody is flocking to the arms of gold,” Niel Pretorius, chief executive officer of DRDGold, said in an interview on Tuesday. “And because our company