Dundee Precious Metals Inc. (DPM) has announced that it is considering a possible sale of its Tsumeb smelter, as the Namibian business is no longer seen as strategic to DPM’s asset portfolio.
The miner’s decision comes as the Namibia-based smelter will no longer be expected to process any concentrate from DPM’s Chelopech mine in Bulgaria, commencing in 2024.
“As a result, it is no longer seen as strategic to DPM’s asset portfolio. Consequently, the assets and liabilities of Tsumeb have been presented as held for sale in the consolidated statement of financial position as of December 31, 2023, and the operating results and cash flows of Tsumeb have been presented as discontinued operations in the consolidated statements of earnings (loss) and cash flows for the years ended December 31, 2023, and 2022,” the Canadian-based mining company said.
DPM’s Tsumeb smelter smelted 188,803 tonnes of complex concentrate in 2023, 14,681 tonnes higher than the corresponding period in 2022, primarily due to increased plant availability following the completion of maintenance work in the third quarter of 2023.
DPM is in the process of acquiring Osino Resources in a N$4 billion deal, an acquisition expected to enhance the miner’s asset portfolio.
Osino is the developer of Twin Hills, a multi-million-ounce gold project with 2.15 million ounces of Proven and Probable Reserves located in Namibia.-miningandenergy.com.na
