Tsumeb smelter delivers 41 800 tons of concentrate copper in 4th quarter


Dundee Precious Metals says its Namibian mine Tsumeb smelter processed about 41,800 tons of complex concentrate during the fourth quarter. 

The smelter processed about 174,100 tons of complex concentrate in 2022, below the annual guidance of 185,000 to 200,000 tons.

The Canadian-based company operates in Bulgaria, Namibia, Ecuador and Serbia, where it has copper and gold mines. 

The company announced its preliminary production results for the fourth quarter on 10 Jan., covering operating highlights and exploration update for Tsumeb, Ada Tepe and Chelopech in Bulgaria.

According to the results, a 17-day shutdown to repair a water leak in the off-gas system and instability in the power grid impacted Tsumeb's results during the fourth quarter. 

Ada Tepe produced the most in the fourth quarter at about 28,100 ounces of gold, while Chelopech produced about 45,300 ounces of gold and 7.4 million pounds of copper. 

In 2022, Ada Tepe produced approximately 94,000 ounces of gold, towards the higher end of its annual production guidance. 

Chelopech produced about 179,100 ounces of gold and 30.8 million pounds of copper in 2022. 

The company said it is finalising the revised feasibility study for the Loma Larga project in Ecuador ahead of its publication in the first quarter of 2023.

Dundee is also expecting results from the Serbian prospect Čoka Rakita in Jan. 2023, where it carried out an initial 30, 000-metre drill programme.

The Serbian government granted Dundee an exploration permit for the Čoka Rakita target in Serbia at the end of October 2022. 

Dundee president and chief executive officer David Rae said their mining operations achieved impressive production results in the fourth quarter, as Ada Tepe delivered its highest quarterly gold production of the year and Chelopech continued its track record of solid performance.

Rae also said 2022 was another strong year for Dundee.

"We delivered robust gold production, advanced our organic growth projects, and ranked in the 91st percentile among mining and metals companies in the 2022 S&P Global Corporate Sustainability Assessment,” he said.





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