Dundee Precious Metals fulfilled its gold extraction targets from Bulgarian mines

Canadian gold mining company Dundee Precious Metals has fulfilled its production plan for 2024 from its two Bulgarian mines – Ada Tepe and Chelopech. Over the past year, the company has extracted 94,300 ounces of gold from its deposit near Krumovgrad and 167,000 more near Chelopech.

In total, this is about 11% below the extracted gold in 2023. The decline is mainly due to the Ada Tepe mine’s reduced output, while production at Chelopech is growing on an annual basis by just over 3%.

The last quarter of the year has been the strongest ever for the new mine, which Dundee began developing in 2018. It produced 29,000 ounces of gold between October and December. The increased production is in line with expectations, as production returned to target rates.

41,900 ounces of gold were mined from Chelopech in the last quarter of 2024.

The company's CEO David Rae pointed out that 2024 was "the tenth consecutive year in which we have achieved our gold production targets, which is a remarkable milestone in the mining industry."

Additionally, Chelopech produced 29.7 million pounds of copper in 2024.

Translated by Tzvetozar Vincent Iolov