BMM – Krumovgrad Gold Mine Development – Bulgaria - Project Profile

BMM – Krumovgrad Gold Mine Development – Bulgaria - Project Profile

  • January 2018 •
  • 9 pages •
  • Report ID: 4379170
Synopsis
"BMM – Krumovgrad Gold Mine Development – Bulgaria- Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.

The "BMM – Krumovgrad Gold Mine Development – Bulgaria- Project Profile" is part of Timetric’s database of 82,000+ construction projects. Our database includes a 10+ year archive of completed projects, full coverage of all global projects with a value greater than $25 million and key contact details for project managers, owners, consultants, contractors and bidders.

Summary
Balkan Minerals and Mining EAD (BMM), a subsidiary of Dundee Precious Metals Inc (DPM) is undertaking the Gold Mine project at Ada Tepe, nearly 3km south of the town of Krumovgrad, Bulgaria.

The project involves the development of an open-pit gold mine. It includes the construction of a gold processing plant with a design to treat up to 840,000 tonnes of ore containing 85,700 ounces of gold per annum, conventional crushing, grinding and flotation processing plant.

The project also includes the construction of an integrated mine waste facility, disposal of thickened tailings, together with mine rock waste, a warehouse, an administrative office and related facilities and the installation of electrical and mechanical equipment, a fire & safety system.

Wardell Armstrong International Ltd has been appointed as the environmental consultant.

On June 2, 2007, the original concession application was lodged.

On August 28, 2009, commercial discovery certificate was issued for the Krumovgrad Gold Project by Ministry of Environment and Waters.

On June 4, 2010 Ministry of Economy, Energy and Tourism (MEET) initiated the process to obtain the necessary approvals to open concession procedure.

On August 9, 2010, upon a recommendation by the Ministry of Culture, BMM entered into a framework agreement with the National Institute of Archaeology and Museum at the Bulgarian Academy of Sciences.

On October 7, 2010, company filed updated documentation with the MEET to obtain a mining concession for the Krumovgrad Gold Project.

On October 29, 2010 BMM submitted an Environmental Impact Assessment (EIA) report to the MoEW. On January 4, 2011 MoEW approved the quality of BMM’s EIA report.

On February 9, 2011 Council of Ministers (COM) approved the granting of the mining concession to BMM. On February 9, 2011 COM approved the granting of the mining concession to BMM.

From July 11, 2011-July 22, 2011, four public hearings were held on the EIA report in Krumovgrad Municipality.

On August 23, 2011 BMM officially notified by the Supreme Administrative Court (SAC) that the court hearing regarding the mining concession appeal is scheduled for February 1, 2012.

On September 1, 2011, BMM submitted a request to the SAC to appoint an earlier date for the court hearing. On September 19, 2011, Supreme Expert Environmental Council (SEEC) voted in favor of the EIA resolution including the pre-emption of execution of the EIA.

On October 5, 2011, BMM received a letter from the Minister of Environment and Waters (MoEW) announcing that, following an objection filed by the mayor of Ovchari village, the MoEW has required that the EIA be reconsidered at a subsequent session of the SEEC. BMM submitted an appeal to the SAC against silent refusal of the Minister of Environment and Waters to approve the EIA.

On November 8, 2011, SEEC voted in favour for a second time of the EIA resolution including the pre-emption of execution of the EIA.

On November 24, 2011 BMM received the EIA resolution with pre-emptive execution signed by the Minister of Environment and Waters on November 23, 2011.

In August 2012, AMEC was appointed as engineering and procurement contractor. The scope of the contract covers engineering of the process plant along with associated services.

The scope also includes providing all design documentation in accordance with European Union and Bulgarian regulations, and procurement, expediting and inspection services.

On July 7, 2014, the Krumovgrad Municipal Council (KMC) approved the terms of reference submitted by the Company for preparation of the detailed development plan.

The project cost increased to US$178 million due to primarily higher levels of definition resulting from the engineering work and updated contractor and equipment pricing, along with completed execution and operational readiness plans. The cost may increase by US$12.4 million.

In June 2016, project secured all the necessary permits.

On August 9, 2016, project received final construction permit.

In December 2016, DPM entered into a definitive agreement with respect to a US$32 million strategic equity investment in DPM by the European Bank for Reconstruction and Development (EBRD).

Initial earthworks and site preparation activities commenced on the project in the fourth quarter of 2016 and actual construction works in January 2017.

Construction works on the project are underway and scheduled to be completed by the fourth quarter of 2018.

Scope
The project involves the construction of an open-pit gold mine nearly 3km south of the town of Krumovgrad, Bulgaria.

The US$178 million project includes the following:
1. Construction of a gold processing plant with a design to treat up to 840,000 tonnes of ore containing 85,700 ounces of gold per annum
2. Construction of a flotation process plant
3. Construction of the crushing facilities
4. Construction of the grinding mills
5. Construction of a warehouse
6. Construction of an administrative office
7. Construction of a mine waste facility
8. Construction of related facilities
9. Installation of the electrical and mechanical equipment

10. Installation of a fire & safety system

Reasons To Buy
• Gain insight into the project.
• Monitor the latest project developments.
• Identify key project contacts.
Loading...

We are very sorry, but an error occurred.
Please contact support@reportbuyer.com if the problem remains.

Country=Bulgaria Industry=Metals ParentIndustry=HeavyIndustry Date=201801 Publisher=Timetric Price=1000