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DPM's Bulgarian mines post strong H1 gold output

Jul 8, 2024, 3:47:45 PMArticle by Mihaela Miteva
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July 8 (SeeNews) - Canada-based Dundee Precious Metals (DPM) said on Monday that its Bulgarian mine Ada Tepe delivered 49,100 ounces of gold in the first half of 2024.

DPM's Bulgarian mines post strong H1 gold output
Image source: Dundee Precious Metals

In the second quarter alone, the mine produced some 23,900 ounces of gold, which was in line with the company's expectations, DPM said in a press release, based on preliminary production results.

At the same time, DPM’s other Bulgarian mine, Chelopech, yielded some 81,200 ounces of gold and 14.6 million pounds of copper in January-June.

Chelopech delivered some 43,700 ounces of gold and 7.9 million pounds of copper in the second quarter alone.

"Gold production was slightly higher than expected as a result of better recoveries, while copper production was slightly below plan due to lower-than-expected copper grades," DPM said.

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

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