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OTHER INVESTMENTS (Tables)

12 Months Ended

Jun. 30, 2023

Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [abstract]

Investment in other entities



			Amounts in R million			Shares held 1			% held 1			2023			2022

			Listed investments (Fair value hierarchy Level 1):
			West Wits Mining Limited ("WWM")			47,812,500			2.1		%	7.2			10.7
			Total listed investments									7.2			10.7

			Unlisted investments (Fair value hierarchy Level 3):
			Rand Refinery Proprietary Limited ("Rand Refinery")			44,438			11.3		%	156.3			136.1
			Rand Mutual Assurance Company Limited B Share Business Fund ("RMA") 2			12,659			1.3		%	4.9			4.4
			Guardrisk Insurance Company Limited (Cell Captive A170) 3			20			100		%	0.1			0.1
			Chamber of Mines Building Company Proprietary Limited			42,292			4.5		%	0.1			0.1

			Total unlisted investments									161.4			140.7

			Balance at the end of the year									168.6			151.4

			Fair value adjustment on equity instruments at fair value through OCI									17.2			(15.7)
			WWM									(3.5)			(32.8)
			Rand Refinery									20.2			16.8
			RMA									0.5			0.3
			Dividends received on equity instruments at fair value through OCI									(78.3)			(71.5)

			Rand Refinery									(77.4)			(70.1)
			RMA									(0.9)			(1.4)
			1The number and percentage of shares held remained unchanged from the prior year with the exception of WWM that issued new shares thereby diluting DRDGOLD's effective shareholding from 2.4% to 2.1%
			2The "B Share Business Fund" shares relate to all the businesses of the RMA Group that do not relate to the Compensation for Occupational Injuries and Diseases Act
			3The shares held entitle the holder to 100% of the residual net equity of Cell Captive A 170

Disclosure of fair value measurement of assets


			Amounts in R million						2023			2022

			Balance at the beginning of the year						136.1			119.3
			Fair value adjustment on equity investments at fair value through other comprehensive income						20.2			16.8

			Balance at the end of the year						156.3			136.1

Key observable/unobservable inputs into the model

Other key observable/unobservable inputs into the model include:


			Amounts in R million			Observable/unobservable input			Unit			2023			2022


			Rand Refinery operations

			Forecast average gold price			Observable input			R/kg			1,060,562			880,207
			Forecast average silver price			Observable input			R/kg			13,460			11,209
			Average South African CPI			Observable input			%			4.5			4.4
			South African long-term government bond rate			Observable input			%			10.51			10.26
			Terminal growth rate			Unobservable input			%			4.5			4.4
			Weighted average cost of capital			Unobservable input			%			17.0			15.9

			Investment in Prestige Bullion

			Discount period			Unobservable input			years			10			11
			Cost of equity			Unobservable input			%			17.0			14.2

Sensitivity analysis

The below table indicates the extent of sensitivity of the Rand Refinery equity value to the inputs:


									Input						Change in OCI, net of tax
			Amounts in R million						% Increase			% Decrease			% Increase			% Decrease


			Rand Refinery operations

			Rand US Dollar exchange rate			Observable inputs			1			(1)			2.4			(2.4)
			Commodity prices (gold and silver)			Observable inputs			1			(1)			1.6			(1.6)
			Operating costs			Unobservable inputs			1			(1)			(3.4)			3.4
			Weighted average cost of capital			Unobservable inputs			1			(1)			(2.2)			2.2
			Minority discount			Unobservable inputs			1			(1)			(1.2)			1.2
			Marketability discount			Unobservable inputs			1			(1)			(1.2)			1.2

			Investment in Prestige Bullion

			Cost of equity			Unobservable inputs			1			(1)			(0.6)			0.6
			Prestige Bullion dividend forecast			Unobservable inputs			1			(1)			0.2			(0.2)