Dundee Precious Metals Receives Final Construction Permit for Krumovgrad Gold Project, Bulgaria
[Click image to enlarge]
Dundee Precious Metals Inc. has received the final construction permit for the Krumovgrad gold project in Bulgaria. The statutory review and appeal period has expired and the permit is in force as of August 9, 2016. With final preparatory activities expected to be completed during the third quarter, and the recent completion of the sale of Kapan, equity offering and commodity hedging, the company is well positioned to commence the construction phase of this project following receipt of board approval.
“After 12 years of continuous investment in Bulgaria at the Chelopech mine and Krumovgrad project, we are pleased and excited to announce that we have received the permit to construct the Krumovgrad mine, a high value return project for all stakeholders. The receipt of this permit is a testament to the commitment of our project team to listen to the concerns of the local community and design a project capable of gaining the support of the community and other key stakeholders. We are on track to break ground on this project, as scheduled, and commence production in the second half of 2018,” said Rick Howes, president and CEO of Dundee Precious Metals.
The proposed mine site is located approximately three kilometers south of the town of Krumovgrad in southeastern Bulgaria. The project plan contemplates the construction of an open pit mining operation comprised of a process plant which will employ conventional crushing, grinding and flotation processing for gold extraction and the disposal of thickened tailings together with the mine rock waste in an integrated mine waste facility. The plant is designed to treat up to 840,000 tonnes of ore containing 85,700 ounces of gold per annum over an eight year mine life.
About Dundee Precious Metals
Dundee Precious Metals Inc. is a Canadian based, international gold mining company engaged in the acquisition of mineral properties, exploration, development, mining and processing of precious metals. The company’s principal operating assets include the Chelopech operation, which produces a copper concentrate containing gold and silver and a pyrite concentrate containing gold, located east of Sofia, Bulgaria; and the Tsumeb smelter, a complex copper concentrate processing facility located in Namibia. DPM also holds interests in a number of developing gold and exploration properties located in Bulgaria, Serbia, and northern Canada, including the Krumovgrad gold project, and its 10.7 percent interest in Sabina Gold & Silver Corp.
To stop by Dundee Precious Metals’ website, CLICK HERE
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
Copyright © 2016 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
For licensing permission, .(JavaScript must be enabled to view this email address)
