We are committed to purchasing supplies and services from local businesses whenever possible. This encourages the viability of the local business community – even those not directly involved in the mining industry, such as food and beverage companies, printing and office suppliers, and cleaning services.
Dundee Precious Metals is committed to purchasing supplies and materials from local businesses whenever possible. This assists and encourages the viability of small and medium businesses in the community, even those that may not appear to be involved directly in the mining industry such as food and beverage businesses, printing and office supplies, cleaning services, etc.
The purchasing power of our employees further supports the local economy. For example, analysis in Chelopech has shown that approximately 85% of wages are reinvested in the local communities where our employees live.
This spending and economic behavior further leads to additional jobs being created in local businesses. Industry research has shown that mining creates between 2-8 additional (indirect and induced) jobs for every direct job held at the mine depending on the type of mining and the level of economic development in the region of operation.
Our studies at Chelopech show that approximately 2.4 additional jobs have been created for every direct job at our Chelopech mine. In other words, an additional 2250 jobs.
Given the operating environments in Tsumeb, we believe the number to be higher, and higher still at our future mine in Krumovgrad (studies to confirm these assumptions have yet to be completed).
Here are some ways that we contribute to the local economy in the communities where we operate:
In Namibia, over 40% of our operating costs are paid to locally-based suppliers and we are increasing our procurement with companies owned and operated by Previously Disadvantaged individuals.
In Bulgaria 85% of our operating costs and 65% of our capital costs are paid to locally-based suppliers.
CMC-C is a Pirdop-based company in the area of engineering and electricity systems, specialized in electrical maintenance, repair and emergency repair of industrial and public sites.
The company specializes in mining and metallurgy. Having worked for a few years in the mine, the owner decided to start his own business specialized in the mining industry.
“My business story is closely tied to my personal story. It began when I was lecturing at the University of Mining and Geology. Payment in the academic institution was not very high, so when a colleague invited me to the Dundee mine in Chelopech, I took the opportunity. My career at the mine began as Head of Electrical Laboratory eventually becoming Deputy Chief Electrician. My interests drew me to new techniques and systems and the company gave me the opportunity to develop these skills. I eventually started my own company and after some time I had 50 employees, mostly from the Srednogorie area. I was born in Sofia but have decided to live in Pirdop for the past 20 years.
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Dundee Precious Metals Inc. is a Canadian based, international gold mining company engaged in the acquisition, exploration, development, mining and processing of precious metals.