Canadian company Dundee Precious Metals planning to open gold mine on Crni Vrh – Initial investment USD 136 million
According to that document, nearly 34 tons of the precious metal, with the gross value of USD 1.6 billion, could be extracted at the site in nine years, the estimated time that the mine would be functional, the daily writes.
– This study is a solid basis for the Timok gold project – said Rick Howes, the president and CEO of DPM.
According to the documentation viewed by Novosti, USD 136 million would be invested initially in the opening of the mine, where reserves of nearly 19 million tons of ore, with an average of 1.36 grams of gold per ton, have been determined.
The estimate is that the annual production would amount to 75,000 to 132,000 ounces, that is, up to 3.73 tons of the precious metal.
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