MINEX Forum

Tag: DPM Metals

  • DPM Metals Achieves Commercial Production at Vareš Silver-Gold Mine Ahead of Schedule

    DPM Metals Achieves Commercial Production at Vareš Silver-Gold Mine Ahead of Schedule

    DPM Metals Inc., a Canadian-based international gold mining company, has announced that it has achieved commercial production at its Vareš silver-gold mine in Bosnia and Herzegovina as of 10 August 2026. This milestone was reached by exceeding an average of 60% of the design throughput capacity and recoveries over a consecutive 30-day period, with daily throughput averaging 72% of the plant’s design capacity. This achievement not only underscores the operational efficiency of the Vareš facility but also positions the mine to reach its full production run-rate of 850,000 tonnes per annum by the end of 2026.

    David Rae, President and CEO of DPM Metals, expressed pride in the team’s dedication and hard work, noting that the early achievement of commercial production reflects the company’s commitment to building and optimising mining operations. Rae highlighted the importance of health and safety standards, local team training, and the transfer of proven operating practices as foundational elements for the mine’s success. He also acknowledged the support from local communities and stakeholders, which has been crucial in reaching this milestone.

    Looking ahead, DPM Metals anticipates that production at Vareš for 2026 will be at the higher end of its guidance range, estimating between 105,000 to 130,000 gold equivalent ounces. This positive outlook is based on strong performance in the first half of the year and the company’s strategic focus on sustainable and efficient gold production.

    DPM Metals operates not only in Bosnia and Herzegovina but also has projects in Bulgaria, Serbia, and Ecuador. The company’s strategic objective is to evolve into a mid-tier precious metals producer, leveraging its portfolio to deliver robust growth and above-average returns for shareholders. The announcement of commercial production at Vareš is a significant step towards achieving this goal, reinforcing DPM’s position in the competitive mining landscape.

    For further details regarding DPM’s production guidance and operational strategies, stakeholders are encouraged to refer to the management’s discussion and analysis available on the company’s website and SEDAR+ platform. DPM Metals continues to navigate the complexities of the mining industry while maintaining a focus on responsible and sustainable practices.

  • DPM Metals to Relocate Ada Tepe Processing Plant to Serbia’s Čoka Rakita Gold Project

    DPM Metals to Relocate Ada Tepe Processing Plant to Serbia’s Čoka Rakita Gold Project

    DPM Metals Inc. (Dundee Precious Metals) has announced that processing equipment from its Ada Tepe gold mine in Bulgaria will be dismantled and relocated for use at the company’s Čoka Rakita gold project in eastern Serbia.

    According to the company’s latest quarterly report, ore processing at Ada Tepe will cease on 15 July 2026, following the final blasting activities completed in mid-April. After operations end, selected processing equipment will be dismantled, refurbished and prepared for installation at the Serbian project.

    DPM expects construction of the Čoka Rakita mine to begin in early 2027. Reusing proven processing infrastructure from Ada Tepe is intended to reduce capital costs, shorten development timelines and lower execution risks as the project advances toward production.

    Alongside the closure of the Bulgarian operation, the company said it will carry out mine rehabilitation in line with European environmental standards. Following reclamation, approximately 95% of the Ada Tepe site is expected to be returned to the Natura 2000 protected area network.

    In its second-quarter update, DPM also reported stable financial performance supported by higher gold-equivalent production from its operating Chelopech mine in Bulgaria and the Vareš operation in Bosnia and Herzegovina.

    The company noted that its strong financial position, supported by a share buyback programme that exceeded US$49 million during the quarter, provides a solid foundation for continued investment and project development across the Balkans.

    DPM Metals plans to publish its full operating and financial results for the second quarter after the close of trading on 30 July 2026.

  • DPM Metals Strikes Major High-Grade Gold-Copper Porphyry Discovery in Bulgaria Adjacent to Chelopech Mine

    DPM Metals Strikes Major High-Grade Gold-Copper Porphyry Discovery in Bulgaria Adjacent to Chelopech Mine

    DPM Metals has announced a significant gold-copper porphyry discovery at its Brevene South Porphyry target in Bulgaria, with a single hole cutting 713 metres grading 1.31 grams per tonne gold and 1.16% copper — results that analysts say could distinguish the site as one of Europe’s most compelling new porphyry systems.

    Standout hole EX_BRESPO_03, drilled approximately one kilometre from the reserve footprint of the operating Chelopech underground mine, returned the 713-metre interval from 1,172 metres downhole, including a higher-grade core of 398 metres at 1.48 grams gold and 1.45% copper from 1,487 metres depth. The hole remains in progress. RBC Capital Markets analyst Harrison Reynolds described the results as distinguishing BSP as “a potentially very high-grade porphyry system,” adding that proximity to existing mine infrastructure materially de-risks the path to eventual economic extraction.

    DPM shares rose 1.6% to C$46.70 in Toronto on Wednesday, valuing the company at approximately C$10.3 billion ($7.5 billion).

    The BSP target sits within the southeastern portion of the Brevene exploration licence, contiguous with the Chelopech mine concession approximately 75 kilometres east of Sofia. The new mineralised zone lies within a hydrothermal alteration system measuring more than 1,000 by 1,500 metres and remains open for expansion. Additional holes released Wednesday include 95 metres at 0.43 grams gold and 0.48% copper from 1,250 metres, and 37 metres at 0.53 grams gold and 0.63% copper from 1,357 metres.

    DPM has mobilised five high-capacity drill rigs to the target and plans up to 15,000 additional metres of drilling by year-end. The company is targeting a Commercial Discovery Certificate after exploration work concludes in September, followed by a mining concession application and environmental permitting. The discovery is DPM’s fourth significant find since 2023, following Čoka Rakita, Dumitru Potok and Wedge Zone.

    Chelopech, one of Europe’s highest-grade operating gold-copper mines, had its operating life extended by four years to 2036 four months ago. DPM forecasts Chelopech will produce 150,000 to 170,000 ounces of gold and 29 to 34 million pounds of copper this year.

  • DPM Metals Extends Chelopech Mine Life to 2036 as Reserves Jump 42%

    DPM Metals Extends Chelopech Mine Life to 2036 as Reserves Jump 42%

    DPM Metals Inc. (TSX: DPM, ASX: DPM) has updated its Mineral Resource and Mineral Reserve estimate and revised the life-of-mine plan for its Chelopech mine in Bulgaria, extending the operation’s mine life to 2036 and maintaining average production of about 160000 gold equivalent ounces per year.

    The company reported a significant increase in Proven and Probable Mineral Reserves to 23.2 million tonnes, representing a 42% net rise in tonnage compared with the previous reserve estimate. DPM said the updated reserve model reflects the inclusion of the Sharlo Dere prospect, revised design and modelling parameters, and updated cut-off assumptions. In metal terms, the new reserve estimate shows higher contained gold and copper, with gold content up 12% and copper up 10% versus the prior estimate.

    Beyond reserves, DPM said its Measured and Indicated Mineral Resource base, excluding Mineral Reserves, increased by 20% to 15.3 million tonnes, with grades of 1.96 g/t gold and 0.57% copper, broadly consistent with reserve grades. The company noted that part of the year-on-year shift in resource figures was driven by conversion of resources into reserves and updates to cut-off assumptions.

    DPM highlighted additional upside potential from exploration, including the Wedge Zone Deep discovery, which is not yet included in the current MRMR estimate. The Wedge Zone Deep target is located within the Chelopech mine concession and around 300 metres below existing reserves and current infrastructure. DPM plans an additional 10000 metres of drilling, expected to be completed in the first quarter of 2026, with an update on drilling results anticipated in the second quarter of 2026.

    The revised life-of-mine plan maintains a 2.2 million tonne per year mining rate through to 2032, following schedule optimisation aimed at meeting production goals and maximising value within development constraints. DPM said the updated plan will form the basis of its 2026 guidance and refreshed three-year outlook, due to be released on February 10, 2026 alongside fourth quarter and full-year 2025 financial results.

    In parallel, the company is progressing permitting and tenure expansion around Chelopech, including efforts to convert the Chelopech North and Brevene licences toward mining concessions, with Chelopech North expected in 2026.