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Dundee reports 'strong' Q2 gold production, says on track to achieve 2023 guidance

Kitco Media
By Vladimir Basov
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(Kitco News) - Dundee Precious Metals (TSX: DPM) announced Monday that its preliminary Q2 2023 production amounted to 76.3 koz of gold (Q2 2022: 72.9 koz) and 7.9 million pounds of copper (Q2 2022: 8.8 million pounds).

The company’s Chelopech mine in Bulgaria produced approximately 44.4 koz of gold and 7.9 million pounds of copper in the second quarter, which increased compared to the first quarter of the year as a result of higher grades, as expected per the mine plan. Chelopech is on track to achieve 2023 guidance for production.

The Ada Tepe mine in Bulgaria continued to deliver strong performance, producing approximately 31.9 koz of gold in the second quarter, in-line with expectations. Ada Tepe is on track to achieve 2023 production guidance.

The Tsumeb smelter in Namibia processed approximately 49.5 thousand tonnes of complex concentrate in the second quarter, which was below expectations due to unplanned downtime related to the off-gas systems.

“Our mining operations continue to perform well and delivered another strong quarter of production in the second quarter,” said President and CEO David Rae. “Our strong performance year-to-date positions us well to achieve our 2023 guidance targets for gold and copper production.”

Dundee Precious Metals is a Canadian-based international gold mining company with operations and projects located in Bulgaria, Namibia, Ecuador and Serbia. 

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Kitco Media

Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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