DPM's 9-mo gold output from Bulgaria's Chelopech mine rises 71%

“Chelopech gold and copper production during the third quarter was as expected, and in line with the mine plan and Chelopech remains on track to achieve our improved 2017 guidance,” DPM said in a statement on Wednesday.

In August, Dundee raised its full-year output guidance to 173,000-187,000 ounces of gold and 35-39 million pounds of copper.

Copper output from the Chelopech mine in January-September amounted to 26.3 million pounds, down from 29.6 million pounds in the corresponding period of 2016.

A total of 1.7 million tonnes of ore were processed during the review period.

In the third quarter alone, a total of 48,400 ounces of gold and 9.5 million pounds of copper were produced at the Chelopech mine.

DPM’s other project in the country, Krumovgrad gold mine, is on track to commence operations in the fourth quarter of 2018, the company said.

“At Krumovgrad, earthworks in the process plant area were completed in the third quarter, and installation of major foundations commenced. Earthworks relating to the construction of the Integrated Mine Waste Facility and installation of major equipment foundations will continue through the fourth quarter,” DPM said.