Dundee Precious Metals contemplates selling Tsumeb smelter

Dundee Precious Metals says it will undertake a strategic review of the Tsumeb smelter, including a potential sale, as it is no longer strategic to its portfolio.

The Tsumeb smelter is one of a few smelters globally that can treat complex polymetallic concentrates, including those with higher arsenic content.

It produces blister copper (98.5% CU), refined in Europe and Asia, and sulphuric acid as a by-product, sold to third-party clients for use in uranium and copper mining.

The Canadian company, which acquired the Twin Hills Gold Project from Osino Resources in December 2023, said this in its 2023 Financial Results and Updated Three-Year Outlook.

Dundee Precious Metals Inc. also declared a first-quarter dividend of US$0.04 per common share.

The company said it decided to undertake a strategic review of its Tsumeb operation, including a potential sale, given that the smelter is no longer expected to process any Chelopech (Bulgaria) concentrate commencing in 2024. 

For more on this and other stories; grab a copy of the newspaper