February 20 (SeeNews) - Canada-based Dundee Precious Metals (DPM) reported 2022 revenue of $271.7 million (254.5 million euro) and $161.8 million from its Bulgarian copper-gold mines Chelopech and Ada Tepe, respectively.
The Chelopech revenue was 7% lower than in 2021 due to lower volumes of copper sold and higher freight charges, the company said in its 2022 financial report last week.
At Ada Tepe, revenue in 2022 fell by 29% on the year, mainly because of lower volumes of gold sold.
In 2022, Chelopech produced 179,135 ounces of gold. Dundee expects gold production of between 150,000 ounces and 170,000 ounces in 2023, reaching between 160,000 ounces and 180,000 ounces in 2024. According to the guidance, gold production from the mine should be between 160,000 ounces and 185,000 ounces in 2025.
The mine delivered 30.8 million pounds of copper in 2022. Production is expected to range between 30 million pounds and 35 million pounds in 2023. It is then forecast to be between 29 million pounds and 34 million pounds in both 2024 and 2025.
Ada Tepe delivered 93,974 ounces of gold in 2022. Dundee expects gold production of between 120,000 ounces and 145,000 ounces in 2023. Production should decrease to between 85,000 ounces and 105,000 ounces in 2024 and between 70,000 ounces and 85,000 ounces in 2025.
($ = 0.9372 euro)