22.1 C
Belgrade
Supported byspot_img
spot_img

EBRD Bulgaria gold mining adventure with Dundee Precious Metals

Member of Europium Groupspot_img
Supported byspot_img

The EBRD currently has a revolving corporate debt facility to Dundee Precious Metals of up to US$ 45 million, as part of the US$ 275 million revolving facility, to support the on-going development and expansion of the Company’s activities and acquisitions in the Bank’s countries of operation.

On 21 April 2015 the EBRD formally included the Company’s proposed greenfield open-pit gold mine project, located near Krumovgrad in Bulgaria, under the facility. The development of the Krumovgrad project is a key objective within the DPM’s long-term development strategy to optimise the value of the existing assets and sustain low-quartile costs. It will complement and provide synergies with the Company’s existing copper-gold concentrate production at its Chelopech mine in Bulgaria.

As per the facility conditions, any category A projects to be included within the facility requires consideration and approval by the EBRD’s Board of Directors. In line with the Bank’s Environmental and Social Policy (2008), the Krumovgrad project has been categorised A and has been subject to a full Environmental and Social Impact Assessment (ESIA) which is disclosed below.

Supported by

There is a project summary document available for this project.

Source: EBRD

Supported byElevatePR Digital

Related News

Canada Nickel reveals initial resource estimate for Deloro project, underscoring Timmins District prospects

Canada Nickel has announced the initial mineral resource estimate for its Deloro nickel sulphide project, located in Ontario's Timmins-Cochrane mining camp. This estimate marks...

Resouro Strategic Metals unveils extensive resource estimate for Tiros titanium and rare earths project

Resouro Strategic Metals, a recent entrant into Brazil’s rare earths sector, has unveiled a significant resource estimate for its Tiros project located in Minas...

NMMC targets $1 billion investment in 2024 to expand gold production capacity

Navoi Mining and Metallurgical Combine (NMMC), the world’s fourth-largest gold producer and Central Asia’s largest gold miner, has announced an ambitious investment program for...

U.S. and Kazakhstan strengthen energy partnership at 2024 Strategic Dialogue in Astana

On July 18, 2024, the U.S. Department of State and the Department of Energy, in partnership with Kazakhstan’s Ministry of Foreign Affairs and Ministry...
Supported by
Supported by
Supported by
error: Content is protected !!