Exhibit 4.120
 A1896
  Execution Version ISL/HD 030807
 Memorandum of Agreement
 Made and entered into between:-
 ANGLOGOLD ASHANTI LIMITED
    (a company duly incorporated in accordance with the company laws of the Republic of South Africa with limited liability, herein represented by Robert Louis Lazare, he being duly authorised hereto under and by virtue of a Delegation of Authority Policy which was approved by the Audit and Corporate Governance Committee of the board of directors of the company passed at Johannesburg on the 24
 th
  marked "A"
 of the first part;


FRIEDSHELF 849 (PROPRIETARY) LIMITED
    (a company duly incorporated in accordance with the company laws of the Republic of South Africa with limited liability, herein represented by Diederik Albert Willem van der Walt, in his capacity as a director thereof, he being duly authorised hereto under and by virtue of a resolution of the board of directors of the company passed at Johannesburg on the 3
 rd
 marked "B"
 of the second part;
  
 DRDGOLD SOUTH AFRICAN OPERATIONS (PROPRIETARY) LIMITED
    (a company duly incorporated in accordance with the company laws of the Republic of South Africa with limited liability, herein represented by Daniel Pretorius, in his capacity as a director thereof, he being duly authorised hereto under and by virtue of a round resolution passed in and during June 2007, and a certified copy whereof is annexed hereto 
  marked "C");
 of the third part;
  
 MINTAILS SOUTH AFRICA (PROPRIETARY) LIMITED
    (a company duly incorporated in accordance with the company laws of the Republic of South Africa with limited liability, herein represented by Diederik Albert Willem van der Walt, in his capacity as a director thereof, he being duly authorised hereto under and by virtue of a resolution of the board of directors of the company passed at Johannesburg on the 3
 rd
 marked "D"
 of the fourth part.


Definitions
      AGA
    AGREEMENT
  PARTIES
   PARTIES
  ATTORNEYS
   Feinsteins
 RSA


BENONI CLUSTER
    the Benoni Cluster
    marked “E”
 CLOSING DATE
     COMPETITION
 COMMISSION
    RSA
 CONVERSION DATE
  ERGO
 MINING RIGHTS OLD ORDER
 MINING RIGHTS NEW ORDER
 MINING RIGHTS DME
 MPRDA


CPI
  RSA
     AGA
     DME
  RSA
 DRD SA
      EFFECTIVE DATE
  SIGNATURE
 DATE


EMP
   ERGO
 ASSETS
 DME
 ENVIRONMENT
         ERGO ASSETS
 ERGO
 OPERATIONS
  BENONI CLUSTER
  ERGO DESIGNATED
 RIGHTS
  ERGO DUMPS


ERGO MINING ASSETS
  ERGO MINING RIGHTS
   SITE
  EXCLUDED ASSETS
 ERGO DESIGNATED
 RIGHTS
     BENONI
 CLUSTER ERGO DUMPS
   marked “F”
 ERGO DUMPS
    ERGO
 OPERATIONS


marked “E”
 ERGO MINING
 ASSETS
  ERGO
 OPERATIONS
  marked “G”
 ERGO MINING
 RIGHTS
  ERGO ASSETS AGA
 OLD ORDER MINING RIGHTS
 NEW ORDER MINING
 RIGHTS ERGO
 OPERATIONS AGA
   BENONI CLUSTER
 ERGO DUMPS SITE


marked “E”
 ERGO OPERATIONS
  ERGO
 ASSETS
 EXCLUDED ASSETS
 EXCLUDED ASSETS
   ERGO ASSETS ERGO
 OPERATIONS
    AGA


MINTAILS AUS
           MINTAILS
 AUS
       AGA


marked “H”
  AGA
  INTERIM PERIOD
  EFFECTIVE DATE
 CLOSING DATE
 LEGISLATION
   ERGO
 ASSETS


LRA
    MPRDA
         LRA
  RSA
 MINTAILS AUS


MINTAILS SA
   MINTAILS AUS
   MPRDA
   RSA
 NEWCO
    DRD SA
 MINTAILS SA
 NEW ORDER MINING
 RIGHTS
  MPRDA
 OLD ORDER MINING
 RIGHTS
  MPRDA


PARTIES
  AGREEMENT
 PRIME
          RESOLUTIVE
 CONDITIONS
      RSA
   SIGNATURE DATE
  AGREEMENT PARTY


SITE
    marked “I”
 SUB-CONTRACTING
 AGREEMENT
  AGA
 NEWCO
  ERGO ASSETS NEWCO
  CLOSING DATE
 CONVERSION DATE
   NEW
 ORDER MINING RIGHTS
  NEWCO
 MPRDA
 ERGO
 MINING RIGHTS


NEW ORDER MINING
 RIGHTS
 NEWCO
     NEWCO
  NEWCO
 NEW
 ORDER MINING RIGHTS
 ERGO
 MINING RIGHTS
 SURETIES DRD SA MINTAILS
 SA
 AGA
  SURETYSHIP
  SURETIES
 AGA


marked “J”
 TERM SHEET
  PARTIES
 RSA
 NEWCO
 AGA ERGO
 ASSETS
     TRADE MARK/TRADE
 NAME
 Ergo
    TRANSACTION
   AGREEMENT PARTIES
 VAT ACT
   RSA


ZAR RAND RSA
   vice versa
              AGREEMENT
   RSA
   including


eiusdem generis
     AGREEMENT
  AGREEMENT contra proferentem
   RSA
 winding-up curatorship
  AGREEMENT
   Recordal
   AGA ERGO ASSETS
  AGA
 ERGO ASSETS NEWCO
 AGA


ERGO ASSETS
 AGA NEWCO AGA
 DME ERGO MINING RIGHTS OLD
 ORDER MINING RIGHTS NEW ORDER MINING RIGHTS
  CONVERSION DATE NEWCO
  ERGO OPERATIONS ERGO ASSETS
  SUB-CONTRACTING AGREEMENT
 AGA
 CLOSING DATE
 PARTIES
 TERM SHEET
  TERM SHEET PARTIES
    Conditions Precedent
  AGREEMENT


SUB-CONTRACTING AGREEMENT
   SURETYSHIP
 SIGNATURE DATE
 ATTORNEYS in trust
 CLOSING DATE
  COMPETITION
 COMMISSION
    AGA NEWCO
      PARTY
 AGREEMENT ipso facto ab initio
 PARTIES
 quo ante SIGNATURE DATE PARTIES
  provided, however, that


ipso facto
 PARTIES AGA
 NEWCO
 AGA NEWCO
  PARTY
 AGREEMENT
    PARTIES
        RESOLUTIVE CONDITIONS
   AGREEMENT
 RESOLUTIVE CONDITIONS


AGA ERGO MINING
 RIGHTS OLD ORDER MINING RIGHTS NEW ORDER MINING
 RIGHTS
  AGA NEWCO
 ERGO MINING RIGHTS
 NEWCO
 CLOSING DATE
 PARTIES
  CLOSING DATE
 AGA NEWCO
 NEWCO
 ERGO OPERATIONS
 DME
  RESOLUTIVE CONDITIONS
 AGA NEWCO
   RESOLUTIVE CONDITIONS
  AGA NEWCO
 SUB-CONTRACTING AGREEMENT


PARTIES
     Warranties
  AGA PARTIES
 AGREEMENT
  ERGO MINING RIGHTS
  AGREEMENT
  OLD ORDER MINING RIGHTS NEW
 ORDER MINING RIGHTS
 NEWCO
   AGREEMENT
  NEWCO
   AGREEMENT


NEWCO
 EXCLUDED
 ASSETS
 TRADE MARK/TRADE NAME
  AGA NEWCO ERGO
 ASSETS
  NEWCO
    ERGO MINING RIGHTS OLD
 ORDER MINING RIGHTS NEW ORDER MINING
 RIGHTS
  ERGO DESIGNATED RIGHTS
 AGA NEWCO
  AGREEMENT
 AGA
  Acknowledgments, Indemnity and Warranties by NEWCO
  NEWCO


ERGO ASSETS voetstoots
 CLOSING DATE
 EFFECTIVE DATE
  ERGO ASSETS
  ERGO ASSETS
   NEWCO
 CLOSING DATE
 LEGISLATION
 ERGO ASSETS
    EMP
 LEGISLATION
  DME
  LEGISLATION


ERGO
 ASSETS
  NEWCO
 ERGO ASSETS
  AGA
 ERGO ASSETS AGREEMENT
 AGA ERGO MINING
 RIGHTS ERGO ASSETS
 NEWCO CONVERSION DATE
  NEWCO AGA
  AGA NEWCO
 NEWCO
 LEGISLATION
  NEWCO AGA INTERIM PERIOD


ERGO ASSETS
 NEWCO
    ERGO ASSETS
    AGREEMENT
   ERGO MINING RIGHTS OLD
 ORDER MINING RIGHTS NEW ORDER MINING RIGHTS
   ERGO
 MINING RIGHTS AGA NEWCO
 CONVERSION DATE
   LEGISLATION
 AGREEMENT
  Sale


CLOSING DATE
   RESOLUTIVE CONDITIONS
  AGA NEWCO
 voetstoots ERGO ASSETS
   AGA NEWCO EFFECTIVE DATE
  Purchase Consideration and Payment thereof
  NEWCO AGA ERGO ASSETS
  Annexe “K”
   NEWCO AGA ERGO ASSETS
 BENONI CLUSTER
 ZAR
 RAND PRIME


ZAR RAND
 SIGNATURE DATE
 AGREEMENT
   ZAR
 RAND
   ATTORNEYS in trust
 CLOSING DATE
  AGA
 NEWCO AGA
  PARTIES
   RSA
  ATTORNEYS
    ATTORNEYS


RSA
   AGA
 CLOSING DATE
  ATTORNEYS AGA
  BENONI CLUSTER
  A B C
   ZAR RAND CPI
 EFFECTIVE DATE
   NEWCO
 BENONI CLUSTER


SUB-
 CONTRACTING AGREEMENT BENONI CLUSTER
  NEWCO AGA
 BENONI CLUSTER
 CLOSING DATE
  SITE NEWCO
 SIGNATURE DATE AGA
 ZAR RAND AGA
 SITE
 AGA
 AGA NEWCO
 EMP ERGO ASSETS
    RESOLUTIVE CONDITIONS AGA
 ERGO ASSETS
 ERGO OPERATIONS NEWCO
 AGA NEWCO
 PARTIES


Environment, Health and Safety and Related Costs
  NEWCO CLOSING DATE
 EFFECTIVE DATE
 ERGO ASSETS
    LEGISLATION
  NEWCO AGA
  AGA ERGO ASSETS
   AGA NEWCO SIGNATURE
 DATE EMP ERGO DESIGNATED RIGHTS ERGO
 MINING RIGHTS
 LEGISLATION
  NEWCO AGA
  AGA NEWCO


NEWCO
 LEGISLATION
  CLOSING DATE NEWCO
 ERGO
 OPERATIONS
 ERGO OPERATIONS NEWCO
 AGA EMP
 NEWCO ENVIRONMENT
   ERGO ASSETS
 AGA NEWCO
  AGA ERGO ASSETS
 AGA
      AGA
   NEWCO


AGA
   NEWCO AGA
 AGA
 ERGO ASSETS
 NEWCO
  Assignment, SUB-CONTRACTING AGREEMENT and DME Approval
 DME
 ERGO MINING RIGHTS OLD ORDER MINING RIGHTS NEW ORDER
 MINING RIGHTS NEWCO
 PARTIES SUB-
 CONTRACTING AGREEMENT
  AGA
 CLOSING DATE
 NEWCO
 ERGO ASSETS
 PARTIES


Employees
 ERGO OPERATIONS
 AGA
 AGA NEWCO
   AGA NEWCO
  NEWCO AGA
 ERGO OPERATIONS CLOSING DATE
 Non-Publication
 PARTIES ERGO
 ASSETS
 AGA
 NEWCO
  CLOSING DATE
 CLOSING DATE PARTIES


AGA AGREEMENT
 NEWCO
  ERGO OPERATIONS
   de facto ERGO OPERATIONS
 PARTIES ATTORNEYS
 SURETYSHIP
    AGA


Ownership of ERGO ASSETS
 AGREEMENT
 NEWCO AGA ZAR
 RAND ERGO ASSETS
 ERGO MINING RIGHTS OLD ORDER MINING RIGHTS NEW
 ORDER MINING RIGHTS
 NEWCO AGA NEWCO
 NEWCO
 Good Faith and Implementation
 PARTIES
   AGREEMENT
 AGREEMENT
  AGREEMENT
   AGREEMENT


AGREEMENT
    AGREEMENT
  Breach
 PARTIES
 AGREEMENT
 CLOSING DATE PARTY/IES
 PARTY/IES
    PARTY/IES
  AGREEMENT
  PARTY/IES
   PARTY/IES
 AGREEMENT


AGREEMENT
  AGA
 AGREEMENT
  AGREEMENT PARTY
 PARTY/IES
  PARTY/IES
   AGREEMENT
  Adjudication of Disputes
 AGREEMENT
 PARTIES
     PARTIES


AGREEMENT
  PARTIES
    RSA
        RSA




AGREEMENT
       AGREEMENT
 AGREEMENT
  AGREEMENT RSA


No Commission
 PARTIES
 AGREEMENT
  Legal and Ancillary Costs
 PARTY
 AGREEMENT
 COMPETITION COMMISSION
 NEWCO
 Domicilia
 PARTIES domicilia citandi et executandi
 AGREEMENT
   AGA RSA
   NEWCO
 st
  RSA


PARTIES domicilium
          PARTY domicilium
 RSA


Confidentiality/Announcements
 PARTIES
 AGREEMENT
 PARTIES
 PARTIES AGREEMENT
   Non-Variation
 AGREEMENT
 PARTIES
  AGREEMENT
 PARTIES
 PARTY AGREEMENT
 PARTY
 PARTY
  PARTY
 PARTY


Governing Laws
 PARTIES AGREEMENT
  RSA
 Signature in Counterparts
 AGREEMENT
  AGREEMENT
   Whole Agreement
 AGREEMENT PARTIES


AGA
 th
                  2.
         Thus done and signed by NEWCO at Johannesburg on this the 6
 th
                  2.
         Thus done and signed by DRD SA at Johannesburg on this the 6
 th
     For:  DRDGold South African Operations (Proprietary) Limited
            2.


MINTAILS SA
 th
      For:  MinTails South Africa (Proprietary) Limited
            2.