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DPM reports record gold output in Bulgaria in 2019

Author Mario Tanev
DPM reports record gold output in Bulgaria in 2019 Author: James St. John Licence: Creative Commons

SOFIA (Bulgaria), January 13 (SeeNews) - Canada's Dundee Precious Metals (DPM) said that it has achieved record high gold concentrate output of 230,600 ounces from its two Bulgarian mines - Chelopech and Ada Tepe, as the Ada Tepe mine reached full operating capacity in September 2019.

"Our Ada Tepe gold production was particularly impressive given that this was achieved primarily over the last two quarters following the commissioning in June of last year,” Rick Howes, president and CEO of DPM, said in a statement last week.

DPM posted gold concentrate output of 201,100 ounces from its Bulgarian operations in 2018, according to previously reported figures.

A further 37.2 million pounds of copper were produced in 2019 at the Chelopech mine, located in western Bulgaria. Ore milled at the two Bulgarian mines amounted to some 2.67 million tonnes last year.

DPM's updated consolidated guidance for 2019 envisaged the production of 200,000-247,000 ounces of gold concentrate and 33-39 million pounds of copper at the two mines.