DPM Bulgarian mines continue strong performance in Q1

Copper production at the mine, however, was slightly lower than planned, at 6.7 million pounds, due to lower copper grades, DPM said in a press release on Monday, citing preliminary production results.

Meanwhile, DPM’s other Bulgarian mine, Ada Tepe, yielded some 25,200 ounces of gold in January-March, in line with expectations.

For the full year, DPM projects gold production at the two mines to total between 245,000 and 285,000 ounces, while production of copper is forecast at between 29 and 34 million pounds. Both the Chelopech and Ada Tepe mines are on track to meet their production guidance for the year, DPM said.

Last November, DPM extended the life of its Chelopech mine to 2032, based on updated mineral reserve estimates.