The original revolving credit facility (DTM 44080) was approved by the EBRD’s Board of Directors on 12 December 2012. The Krumovgrad Gold Mine Project has been presented to and approved by the Board on 21 April 2015.
Project description
The EBRD currently has a revolving corporate debt facility to Dundee Precious Metals of up to US$ 45 million, as part of the US$ 275 million revolving facility, to support the on-going development and expansion of the Company’s activities and acquisitions in the Bank’s countries of operation.
On 21 April 2015 the EBRD formally included the Company’s proposed greenfield open-pit gold mine project, located near Krumovgrad in Bulgaria, under the facility. The development of the Krumovgrad project is a key objective within the DPM’s long-term development strategy to optimise the value of the existing assets and sustain low-quartile costs. It will complement and provide synergies with the Company’s existing copper-gold concentrate production at its Chelopech mine in Bulgaria.
As per the facility conditions, any category A projects to be included within the facility requires consideration and approval by the EBRD’s Board of Directors. In line with the Bank’s Environmental and Social Policy (2008), the Krumovgrad project has been categorised A and has been subject to a full Environmental and Social Impact Assessment (ESIA) which is disclosed below.
ESIA disclosure package
All ESIA documents are available in English and Bulgarian.
Final Environmental and Social Action Plan:
English
Full ESIA availability
Full ESIA documentation is available locally at:
Project Information Centre
Address: 10 Saedinenie Street, Krumovgrad, Bulgaria
Telephone: +359 3641 68 02
Mobile: +359 888 181 104
Working hours: All week days from 9:00 AM to 1:00 PM
And
EBRD Resident Office
Address: 17 Moskovska Street, Sofia, Bulgaria
Tel: +359 2 9321 414
Contact: Daniel Berg
Enquiries
Contact person: Mr. Lubomir Marchev
Telephone: +359 3641 68 02
Mobile: +359 888 181 104
This document was prepared at an early stage of project development, before consideration by the EBRD Board of Directors. Details of a project may change following disclosure.
Environmental and Social Impact Assessments and ESIA summaries are produced by project sponsors, and the EBRD makes them available without any comment or implied endorsement. Any views expressed or statements made in the Environmental and Social Impact Assessment or the ESIA Summary do not necessarily reflect the views or opinions of the EBRD.
Last updated 25 June 2014
