October 2 (SeeNews) - Bulgaria's government said on Wednesday that it has awarded a three-year metals exploration permit to Dundee Precious Metals Chelopech, a unit of Canada's Dundee Precious Metals (DPM), for the St. Nikola deposit, in southern Bulgaria.
Dundee Precious Metals Chelopech will invest at least $470,000 (431,000 euro) in exploration activities during the three-year period, the government said in a statement following its weekly meeting.
Last week, DPM said that it has successfully completed ramp-up activities at its Krumovgrad open pit gold mine, located at the Ada Tepe property in southern Bulgaria, and that the mine has been operating at the full design tonnage for 10 days straight.
DPM also operates the Chelopech gold and copper mine in central Bulgaria.
($ = 0.9166 euro)