Toronto, July 30, 2008 - Dundee Precious Metals Inc. announced that the Bulgarian Minister of Environment and Waters signed this morning the Environmental Impact Assessment (“EIA”) for the Company’s Chelopech Expansion Project.
“This is a moment we have all been working towards. It constitutes an important achievement that will allow DPM to continue its future growth plans of becoming the next mid cap producer, the goal we set for our Company four years ago. I want to thank our staff for their hard work and relentless energy and our shareholders who supported us throughout this two year process”, said Jonathan Goodman, President and CEO of Dundee Precious Metals Inc.
The approved EIA contemplates the expansion of the Chelopech Mine to an annual processing rate of up to 2.0 million tonnes per year in its first stage (the permit allows expansion up to 3.0MM tpy) and the construction of a metals processing facility at site (smelter). A restated Feasibility Study is being completed and will be finalized during the fourth quarter of 2008. With this approval, DPM is now in a position to obtain the construction and operating permits required to complete the project
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