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Dundee Precious Metals achieves record gold production in 2020

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(Kitco News) - Dundee Precious Metals (TSX: DPM) announced on Monday its preliminary production results from both of its mines in Bulgaria and the Tsumeb smelter in Namibia for Q4 and full year of 2020.

The company produced 298.3 koz of gold and 35.6 mlbs of copper in 2020; Q4 output amounted to 64.2 koz of gold and 7.6 mlbs of copper.

Dundee said that it “met or exceeded” production guidance at each of its operations, with total gold production for the year being “at the high end” of the company’s 2020 guidance range.

The company added that its Ada Tepe mine delivered “impressive performance” in 2020, producing 118,7000 gold ounces, which exceeded its gold production guidance of 94,000 to 115,000 ounces.

Chelopech produced 179,600 ounces of gold and 35.6 million pounds of copper, achieving the high end of its gold production guidance of 163,000 to 184,000 ounces and meeting its guidance for copper production of 35 to 40 million pounds.

The Tsumeb smelter processed approximately 231,900 tonnes of complex concentrate in 2020.

“2020 was another milestone year for DPM, as we delivered record gold production and met or exceeded our production guidance at each of our operations,” said President and CEO David Rae. “Our impressive operating results throughout the year reflect outstanding efforts by our teams to effectively manage the challenges of the COVID-19 pandemic while continuing to prioritize the health and safety of our workforce and local communities.”

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