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Canada's Dundee Precious Metals gets approval for Krumovgrad project

Thu, Jan 06 2011 09:23 CET

byDnevnik.bg

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Canada's Dundee Precious Metals gets approval for Krumovgrad project

Photo: Krassimir Yuskesseliev

Canadian Dundee Precious Metals (DPM) has received a positive grade from Bulgaria's Environment Ministry for its gold mining project in the southeastern town of Krumovgrad, the company said on January 5 2010.

In June 2010, DPM's wholly-owned subsidiary Balkan Mineral and Mining revised its gold extraction project, scrapping plans to use cyanide to process the ore.

In addition, the newly proposed project does not involve a pond and will occupy a smaller area than the initially planned site at the Ada Tepe field near Krumovgrad.

The investment is estimated at $100 million and the project is expected to turn out between 800 000 and a million tons of gold concentrate a year.

According to DPM estimates, the field contains about 25 tons of gold, while mining is expected take up eight to 10 years.

Source: Dnevnik.bg

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