DPM's Bulgarian mine posts below-target gold output in Q3
Canada-based Dundee Precious Metals (DPM) said its Bulgarian mine Ada Tepe delivered some 16,200 ounces of gold in the third quarter, falling short of projections due to temporary operational challenges.
The mine's production was impacted by lower-than-expected grades, recoveries and fleet availability, along with low rainfall in the region in the review period, DPM said in a press release on Monday, citing preliminary production results.
In January-September, Ada Tepe yielded some 65,300 ounces of gold.
DPM expects higher production at Ada Tepe in the fourth quarter as mining transitions to higher-grade and recovery areas, with fleet availability issues also resolved.
Meanwhile, DPM’s other Bulgarian mine, Chelopech, produced 43,900 ounces of gold and 7.3 million pounds of copper in the third quarter. While gold production met expectations, copper output was slightly below target.
The mine delivered 125,100 ounces of gold and 21.9 million pounds of copper in the nine months through September.
For the full year, DPM projects gold production at the two mines to total between 245,000 and 285,000 ounces, while production of copper is forecast at between 29 million and 34 million pounds. Both the Chelopech and Ada Tepe mines are on track to meet their production guidance for the year, DPM said.
Source: https://seenews.com/