Bulgaria`s economy and energy ministry is waiting for Canada`s gold miner Dundee Precious Metals to put forward new conditions for the construction of a gold extraction facility near Chelopech.

In mid-2009, the government announced it would form a joint venture with the Canadian company where the state would hold 25%. An intergovernmental group sat at the talks table with company representatives but pen was not put to paper.

Currently, the state is represented at the negotiations by the energy ministry, which has requested that Dundee tweaks conditions.

Approached for comment, the Canadian firm said it was currently drafting the new terms and conditions that would be submitted for approval with the ministry.

Dundee is developing two investment projects in Bulgaria. Its second scheme is the Ada Tepe gold extraction site near Kroumovgrad...