17:33

16.12.13

1 min.

Bulgarian gold to be produced in China

StandartNews |

Bulgarian gold to be produced in China

Photo: razkritia.com

Gold from the Bulgarian mine Chelopech, which is under the concession of the Canadian company Dundee Precious Metals, will be produced in the distant China, Presa daily reports. This will happen after the company starts to produce and export pyrite concentrate next year, as according to the plans of Executive Director Nikolay Hristov.


Hristov explained that the company has a contract with a Chinese firm for the purchase of the concentrate and it will extract precious metals - gold, silver and copper - from the pyrite.


So far there was no market for the pyrite from Chelopech and it went to the dumps of the mine as the production in Bulgaria is not economically viable , the company said.


Chelopech is the largest existing gold deposit in Bulgaria. For last year Dundee  paid about BGN 15 million lev concession fees to the state. The content of gold in the ore is 4-5 grams per ton.


A few years ago Chelopech Mining was going to invest in a line to extract the metal from the resulting gold- copper remains. However, the project met fierce resistance by environmental organizations, as the involved technology uses cyanide. This forced Dundee to start exporting the product to Namibia.






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