24.8 C
Belgrade
20/05/2024
Mining NewsUncategorized

Dundee Q3 gold output at Chelopech mine Bulgaria drops 19.2%

Canada’s Dundee Precious Metals announced it had produced 23,900 ounces of gold from its Chelopech mine in Bulgaria in the third quarter.
This was a 19.2% drop compared to the previous quarter, when the mining company produced 29,600 ounces of gold.
“Chelopech gold production in the third quarter decreased, as expected, due to mining lower gold grade zones. Copper production was in line with the mine plan,” DPM said in a statement posted on its website last week.
Copper production fell slightly to 9.4 million pounds, compared to 9.6 million pounds in the previous quarter. Silver output rose to 57,400 ounces in the third quarter, up from 50,000 ounces in the second quarter, according to DPM data.
DPM processed 561,000 tonnes of ore in the third quarter, the same amount as in the previous quarter.
A total of 1.67 million tonnes of ore were processed at Chelopech in the first nine months that ended September 30, with 86,900 ounces of gold, 176,600 ounces of silver and 29.6 million pounds of copper produced.
During the fourth quarter, DPM expects higher gold production, similar to second quarter output, and lower copper production.
The Chelopech mine is located approximately 70 kilometers east of the capital Sofia.
DPM announced last month a $50 million prepaid forward gold sale of a portion of its forecast 2019 and 2020 production to back the implementation of its Krumovgrad gold project in Bulgaria.
“An early works program is underway to support commencement of construction in the fourth quarter, consistent with the project schedule to commence operations in the fourth quarter of 2018,” DPM said.
source: seenews.com

error: Content is protected !!