Dundee Precious Metals Inc. (TSX: DPM) yesterday confirmed that its Chelopech and Ada Tepe mines, located in Bulgaria, continue to have a secure supply of power, and the Company does not anticipate an impact to the operations as a result of the recent announcement that Russia is suspending natural gas deliveries to Bulgaria.
“It is business as usual for our operations in Bulgaria, and we continue to operate with a steady supply of energy from Bulgaria’s national power grid,” said David Rae, President and Chief Executive Officer. “Bulgaria is a net exporter of power and is not reliant on imported natural gas from Russia for its electric power needs.”
The main sources of Bulgaria’s electric energy are nuclear and coal facilities, which together comprise approximately 80% of Bulgaria’s total energy generation. Although Russia has recently announced that it is halting natural gas deliveries to Bulgaria, approximately 5% of Bulgaria’s total energy supply is generated from natural gas1 and DPM does not anticipate any disruption of power supply to its mines as a result.
Furthermore, the Company does not source any supplies from Russia or Russian companies. As a result, the impact of the conflict in Ukraine on the Company has been limited to increased costs for energy, fuel and other direct materials. DPM continues to closely monitor and proactively manage the potential impacts stemming from this evolving situation.
