site.btaNew Gold Mine Opens Near Krumovgrad

114 ECONOMY-GOLD MINE-OPENING

New
Gold Mine Opens
Near Krumovgrad


August 23 (BTA) - A new gold mine opened on Friday at Ada Tepe, approximately 3 km south of the town of Krumovgrad in southeastern Bulgaria. The mine is the first greenfield mine in Bulgaria opening in over 40 years, according to investor Dundee Precious Metals Krumovgrad, a daughter company of the Canadian Dundee Precious Metals (DPM).

The mine is expected to operate for eight years.

The project has been in the pipeline for close to 20 years, stalled by mistrust in the local community over the impact of the operation. During this period, the investor had to revise some of the plans and the technologies to be used.

The DPM website says that the project includes an open pit mining operation comprised of a process plant employing conventional crushing, grinding and flotation for gold extraction, and the disposal of thickened tailings, together with mine rock waste, in an integrated mine waste facility.

The mine employs 238 people most of whom are local rom Krumovgrad.

Prime Minister Boyko Borissov and National Assembly Chair Tsveta Karayancheva attended the opening ceremony.

Prime Minister Borissov said that the government prioritizes urban development and attracting investors.

He said that tens of millions have been invested in infrastructure in the region in order to invite billions of investments. "Hundreds of Bulgarian citizens, both Muslims and Christians, work here. In March 2020 the average salary will be 2,700 leva and now it is 2,100 leva. We are focusing our efforts to this end," said Borissov quoted by the government's information service.

Investments by DPM in Bulgaria exceed 1 billion leva. The company has a gold mining operation in Chelopech too. In the 15 years since its launch over 860 million leva have been invested in the upgrade and improvement of working conditions and environmental protection. So far investments in Krumovgrad have totalled 280 million leva. LN/PP.
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