Dundee Q1 gold output from Chelopech mine in Bulgaria rises
Canada’s Dundee Precious Metals said it produced 46,400 ounces of gold from its Chelopech mine in Bulgaria in the first quarter of 2017, up from the 33,400 ounces produced in the like period of 2016.
“First quarter Chelopech gold and copper production was in line with the 2017 mine plan,” DPM said in a statement late on Wednesday.
Copper output from the Chelopech mine in the first quarter amounted to 8.2 million pounds, DPM added.
A total of 540,600 tonnes of ore were processed in the first quarter.
In December, the European Bank for Reconstruction and Development announced a $32.7 million (30.7 million euro) investment in DPM to back up the development of the company’s Krumovgrad gold and silver mining project in south-eastern Bulgaria. The investment was successfully closed on January 24, DPM said.
“At Krumovgrad, earthworks continue to progress in accordance with the project plan, with first concrete forecast to be poured in April as planned, and consistent with the project schedule to commence operations in late 2018,” DPM said in its statement.
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