Krumovgrad Gold Mine Finally Starts Producing Gold

Dundee Precious Metals’ Krumovgrad open pit gold mine in southern Bulgaria has produced its first gold concentrate, with anticipated output of 55,000 to 75,000 ounces of gold from concentrate during calendar year 2019, reports coinworld.com

Canada based Dundee is increasing its ore processing with a goal toward averaging 100,000 ounces of concentrate annually over the next five years, according to company officials.

The addition of Krumovgrad builds upon Dundee’s 2018 output of 210,000 ounces of gold from concentrate at its Chelopech mine in western Bulgaria.

Dundee officials report that a significant amount of various grades of stockpiled mined ore remains at Krumovgrad to be processed.

The Krumovgrad mine had a projected life of eight years as of Jan. 1, 2014. Projections are identified at 85,000 ounces of gold from concentrate for the life of the mine, at a cost of $404 in U.S. dollars per ounce. 

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