Dundee Precious Metals (DPM) Tsumeb smelter exceeded its production guidance, with total gold production for the year being at the high end of the company’s 2020 guidance range.
This is according to the company’s preliminary production results for three and twelve months ended 31 December 2020, released on 11 January 2021.
DPM Tsumeb smelter processed approximately 231 900 tonnes of complex concentrate in 2020. During the fourth quarter, approximately 52 500 tonnes of complex concentrate were reportedly processed. These, according to the report, reflect a four-day shutdown following the previously announced employee fatality in November, as well as maintenance activities in the converter area of the facility.
For the year, according to the report, annual guidance was achieved despite the operation being impacted by a 30-day reduction in throughput in April, related to COVID-19 during the second quarter when the government issued a request to limit staffing levels.
Responding to questions sent by Nampa on Thursday, DPM Tsumeb Smelter’s Corporate Communications Manager, Alina Garises stated that the company has not experienced any material disruptions to its operations as a result of the COVID-19 pandemic.
“We continue to effectively manage the pandemic, prioritizing the health and safety of the workforce and host community and ensuring inbound and outbound supply chains,” she said, adding that 2020 was another milestone year for Dundee Precious Metals, as it delivered record gold production and met or exceeded its production guidance.
Garises added that the company’s strong operating results throughout the year reflect outstanding efforts by its teams in all its operating regions to effectively manage the challenges of the COVID-19 pandemic while continuing to prioritize the health and safety of its workforce and local communities.
On 08 December 2020, DPM announced a 50 per cent increase to its quarterly dividend from N. dollar 0.30 (US$0.02) per share to N. dollar 0.45 (US$0.03) per share. The increase, according to the report, comes less than a year after the announcement of the company’s inaugural quarterly dividend in February 2020 and reflects strong ongoing operational performance, significant free cash flow generation, and a growing cash balance. The increase to N. dollar 0.45 (US$ 0.03) per share will commence with the previously announced fourth-quarter dividend, payable on 15 January 2020 to shareholders of record.
The company plans to release its fourth quarter and 2020 full year operating and financial results after the market has closed on 11 February 2021.