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Article

25 Jan 2010

Author:
Sofia News Agency

Dundee Precious shelves Bulgarian project

…Dundee Precious Metals has abandoned plans to develop a plant in Bulgaria…Bulgaria's Economy Ministry confirmed that the company has informed them of…the freezing of its plans to build a metallurgy plant near Chelopech…using cyanide to extract the gold. The news comes after the company failed to secure all necessary permits from Bulgarian institutions...and faced strong opposition from environmentalists…Last year…a Bulgarian court revoked a 2008 environmental impact assessment resolution, which gave the green light to its gold and copper mine in Chelopech. "While we are extremely disappointed with the court's decision, we believe the court's reasons to be unsubstantiated and without merit," Jonathan Goodman, Dundee's president and chief executive commented…