Dundee reports record gold production in second quarter in Bulgaria
Dundee Precious Metals (TSX: DPM) announced strong preliminary production results from both of its mines and the smelter, with consolidated gold production of 85,100 ounces for the three months ended June 30, 2021, which is 5% more than 81,400 ounces produced a year before.
According to a statement, the company’s flagship Chelopech mine in Bulgaria produced 52,600 ounces of gold and 10.0 million pounds of copper during the second quarter. Gold production, which increased significantly compared with the first quarter, was higher than expected as a result of mining higher grade zones and improved recoveries, the company said.
Dundee added that the Ada Tepe mine in Bulgaria continued to deliver strong gold production, producing 32,500 gold ounces in the second quarter, which was in line with the mine plan.
The Tsumeb smelter in Namibia delivered solid performance during the second quarter, the company noted, processing 59,600 tonnes of complex concentrate, an increase compared with the first quarter following the completion of the planned Ausmelt furnace maintenance in March.
With strong performance in the first half of the year, the company said it is on track to meet its previously issued guidance for 2021 at each of its operations.
“We achieved a new record for gold production in the second quarter as a result of strong performance from our mining operations,” said president and CEO David Rae. “Our strong gold production, combined with solid smelter performance in Q2, positions us well to achieve our 2021 guidance at each of our operations”.
Additionally, the company said that, as previously announced in May 2021, and in line with its disciplined capital allocation framework, DPM will pay a quarterly dividend of US$0.03 per share on July 15, 2021 to shareholders of record as at 5:00 p.m. Toronto local time on June 30, 2021.
Dundee Precious Metals is a Canadian-based international gold mining company with operations and projects located in Bulgaria, Namibia and Serbia.
- Tara Mines bids to extract last of Bula resource and end long-running saga
- Adriatic Metals’ Veovaca project in Bosnia received exploitation permit
- Newmont is expanding its business to Europe
- Mining concessions, fees and challenges for investors in Serbia
- What Are The Major Natural Resources Of Macedonia?
- Raptor Resources granted license to prospect for gold in Ireland
- Romania bail out from Ukraine Krivoy Rog Mining Oxidized Ore project investment
- Mining and indigenous communities across the world
- Political influence on Kyrgyz gold mining
- Central Asia Metals to buy Lynx Resources for $402.5m, including Macedonia lead zinc mine Sasa