Dundee Tsumeb misses its 2022 target

January 11, 2023

 Dundee Precious Metals has announced that its Tsumeb smelter in Namibia has missed its annual processing target for 2022.

The smelter had aimed to process between 185,000 and 200,000 tonnes of complex concentrate, but ultimately processed approximately 174,100 tonnes.

The missed target can be attributed to a number of factors, including a 17-day shutdown to repair a water leak in the offgas system and instability in the power grid due to abnormally heavy rainfall in December.

In spite of these challenges, the Tsumeb smelter processed 41,800 tonnes of complex concentrate during the fourth quarter.

Despite the missed guidance (target) in Namibia, Dundee Precious Metals still met its production goals for gold and copper, producing 273,100 ounces (Oz) of gold and 30.8 million pounds of copper in the year.

This met the company's guidance of 250,000 Oz to 290,000 Oz of gold.

"Our mining operations achieved impressive production results in the fourth quarter, as Ada Tepe delivered its highest quarterly gold production of the year and Chelopech continued its track record of strong performance," said Dundee President and CEO David Rae.

Built in 1963, the Tsumeb smelter is one of the only smelters in the world that can treat complex copper concentrates, and is capable of producing 98.5% pure copper blisters.

The company will continue to focus on achieving its production goals and improving the performance of the Tsumeb smelter in the coming year.

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Last modified on Friday, 13 January 2023 17:45

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