Dundee’s subsidiary in Bulgaria obtained the exploration permit for exploration and geological survey of two new locations.
The Bulgarian government has allowed a subsidiary of Canada-based Dundee Precious Metals to explore a field in Bansko municipality, Southwestern Bulgaria, for metallic minerals.
Dundee Precious Metals Krumovgrad will now be able to explore the fields near the villages of Gostun and Osenovo for a period of three years, investing a minimum of BGN 131 150 (more than BGN 65 000) in geological surveys, the cabinet’s press office said after a ministerial meeting on Wednesday.
Dundee will also invest BGN 4500 in activities to preserve the environment.
The cabinet is quoted as saying at its meeting that the step will allow the increase in the volume of geological information about Bulgaria’s territory.