Canada's Dundee Precious Metals (DPM) said it has extended the life of its Bulgarian mine in Chelopech by two years to 2025 from 2023. The updated mineral resources estimated for the Chelopech mine, for combined measured and indicated material, have increased 13%, or 2.2 million tonnes.

The pyrite recovery circuit started operations in March this year. It has an annual gold capacity in pyrite production of up to 80,000 ounces (oz) of gold. The amount of inferred material has dropped by 15% in tonnes. Copper resources have increased by 12%, while there is a 7.0% increase in gold and 11% increase in silver.

The primary reason for these changes are tonnage losses due to production of 2.5 Mt of ore treated during the period October 1, 2012 to December 31, 2013, offset by increases in resources from development drilling success.

Dundee Precious Metals Inc. is a gold mining company engaged in the acquisition, exploration, development, mining and processing of precious metals. DPM operates а plant in Bulgaria in Krumovgrad, in the south of Bulgaria. The company also has mines in Sebia, Canada, Armenia and Namibia