June 23, 2024
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Serbia: Čoka Rakita project – a new dawn for gold mining

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Čoka Rakita project, located in Serbia and managed by Dundee Precious Metals (DPM), is making significant strides, leveraging on the favorable infrastructure conditions. Its strategic location and easy accessibility to power and road networks have positioned it as a key player in the mining industry. The project’s proximity to DPM’s existing operations in Bulgaria and the company’s expertise in underground mining and processing further fortifies its standing.

Progressive Metallurgical Testing and Exploration

Recent metallurgical tests have shown encouraging results for the project. The expected gold recoveries are projected to be around 90% using gravity concentration and conventional flotation methods. This promising outcome has further bolstered DPM’s confidence in the project. Alongside, the company is actively engaged in exploration and infill drilling, aiming to expedite the project’s development. The steps include geotechnical and hydrogeological drilling, further metallurgical testing, and meticulous planning of site infrastructure.

Stakeholder Engagement and Permitting

Staying true to its commitment, DPM is proactively engaging with stakeholders while diligently managing permitting processes. The project has garnered positive responses from both local and national authorities, providing a conducive environment for its advancement. DPM’s presence in Serbia since 2008 and the trust it has built over the years have been instrumental in fostering strong community and government relationships.

Anticipation of Preliminary Economic Assessment

A preliminary economic assessment (PEA) is on the horizon, expected to be completed by the second quarter of 2024. The PEA aims to process 850,000 tonnes annually, setting a significant milestone for the project. The high-grade deposit discovery at Čoka Rakita, boasting an estimated 1.8 million ounces of gold, has added an impetus to the project’s progression.

In line with the industry standards, DPM is committed to responsible environmental management and social development. The company holds a firm belief in creating opportunities for local community development and has been focusing on establishing partnerships with local stakeholders. This mutual benefit approach ensures that the Čoka Rakita project will deliver substantial benefits for Serbia and its people.

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