Dundee foresees increase in production in 2013
Dundee Precious Metals (DPM) has estimated that its Tsumeb Smelter will process between 185 000 to 200 000 tons of complex concentrate, 25 000 more tons than its actual production target of 159 356 tons of concentration in 2012.
The smelter, which was previously known as Namibia Customs Smelter recently changed its name and logo as a commitment of its investment to the people of Tsumeb and the country as a whole and according to DPM spokesperson, Jim Kastelic, the name change will not affect operations at the smelter.
Apart from the Tsumeb Smelter which produces concentrate, a grainy, metal-rich substance that is produced by grinding raw ore into fine particles and removing the waste, Dundee Precious Metals currently has producing mines, Chelopech in Bulgaria which produces gold, copper and silver and the Kapan Mine in Armenia which produces gold, copper, zinc and silver.
According to Kastelic, in 2012, the two mines met production targets for gold and copper but narrowly missed production targets for zinc and silver. “Dundee Precious Metals also achieved its production target for tons of concentrate smelted at the Tsumeb Smelter with concentrate smelted tons targeted between 145000 and 155 000 and the actual production value was 159 356 tons,” Kastelic informed the Economist.
He added that Dundee Precious Metals is unable to predict future commodity prices and will remain focused on being a profitable company by continually looking for ways to optimise operations and lower its costs of production.”Dundee Precious Metals remains committed to continuing to modernise the Tsumeb Smelter regardless of commodity prices,” said Kastelic.
The smelter currently employs 455 permanent employees and although expansion to other areas is currently not in the pipeline, Kastelic says the company is always looking for growth opportunities via acquisition. “However, the company is also focused on growing by investing in its current operations. This includes expanding and modernising its current operations at the Tsumeb Smelter in order for it to achieve world-class standards,” he said.