New gold mine could open in east Serbia – Canadian company Dundee satisfied with exploration results

The Canadian mining company Dundee Precious Metals (DPM) has been carrying out geological explorations of copper and gold in eastern Serbia for a number of years now. As Rob Wienand, the director of this project, told eKapija, the preliminary feasibility study, whose results are positive, should be published in early 2020.

– We have completed a thorough Preliminary Economic Assessment (PEA) and submitted it, and considering that our exploration permits are valid for another two years, we simultaneously worked on the preliminary feasibility study and the feasibility study – Wienand says and adds that he is optimistic regarding the results.

According to him, the preliminary feasibility study should start being prepared in January or February, and the results, which are confidential at the moment, will be published in mid-2020.

– We plan to complete this in the next six months and we hope that we will be authorized to start realizing the feasibility study. I expect the decision on the feasibility study to be reached in the second half of 2020 – Wienand points out.

He says that he would be very happy if eastern Serbia got a new mine.

– I`d like to see another mine in eastern Serbia, which depends on the results of our explorations. As the project leader, I`m optimistic and I would truly like us to continue. We are looking for the best mining methods, such as can optimize the profit, while at the same time having this be a sustainable project that the community can profit from – Wienand says.

The Chinese company Zijin has announced that it will buy out the lower zone of the Cukaru Peki copper and gold mine near Bor for USD 390 million from Freeport-McMoran, whereby it will become the only owner of that mine. When asked whether Dundee also expects to get an offer from the Chinese company, Wienand says that he is currently focused on the engineering part of the job.

– When we`ve completed the feasibility study, I will deal with the design and the launching of the project and that`s where my ambitions lie. Still, I hope that we will be the ones who will do the excavation in the future mine – Wienand said.

Dundee Precious Metals is a Canadian mining company which explores, develops, mines and processes precious metals.

I. Milovanovic