March 25 (SeeNews) - Bulgaria's government said that it has awarded a metal ores exploration permit for the Krumovitsa area to local company Dundee Precious Metals Krumovgrad (DPM Krumovgrad), a wholly-owned unit of Canadian gold exploration company Dundee Precious Metals (DPM).
DPM Krumovgrad will invest $797,500 (674,450 euro) in exploration activities during the three-year term of the permit, the government said in a statement on Wednesday.
The area is located in the Krumovgrad municipality, near the DPM Krumovgrad-operated gold mine Ada Tepe. The Ada Tepe mine produced 118,700 oz of gold in 2020.
In another decision on Wednesday, Bulgaria's government awarded a two-year building materials exploration permit to local Lina-07-Vladimir Ivanov, which will invest 28,500 levs in exploration activities.
($ = 0.8457 euro)