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Company Overview

Dundee Precious Metals Tsumeb (Pty) Limited (DPMT), is located in Tsumeb, Namibia approximately 430 km north of the capital city of Windhoek. Tsumeb is the closest town to the Etosha National Park and has a population of 35,000 people. The smelter was constructed in the early 1960’s to process concentrate from the Tsumeb copper mine and other mines in the country. It is linked by rail to the Atlantic port of Walvis Bay in Namibia.

The facility consists of a primary smelting furnace the Ausmelt furnace, two Peirce Smith Converters, bag houses and cooling towers, a slag milling plant, two high voltage distribution sub-stations, a materials handling facility, two oxygen plants, a fume extraction system and a sulphuric acid plant. The smelter employs approximately 800 people.

The smelter is one of only a few in the world that can treat complex copper concentrates. Blister copper and sulphuric acid are smelter products. The blister copper is delivered to refineries in Europe and Asia for final processing to copper metal. Sulphuric acid is a critical component in the mining industry particularly for uranium and copper production businesses. Thus, the smelter can take a by-product of copper and turn it into something of value for Namibia.

The Tsumeb smelter produces 98.5% pure copper blisters and with its ability to treat complex copper concentrates is transitioning from a captive smelter, receiving mainly Dundee concentrates into a toll treatment facility with brown-fields expansion potential.


Tsumeb Corporation Limited (TCL) commissioned the smelter plant in 1963 under an American mining company, Newmont Mining Corporation. It featured an integrated copper and lead section (with refinery) and smaller plants that produced cadmium and arsenic trioxide as by-products.

Production officially started in March 1964 and at that stage the smelter produced more than 3,500 tons of copper and 6,000 tons of lead per month. By 1986 the smelter was also producing sodium antimonite for export.

In 1988, TCL was taken over by Gold Fields South Africa and administered by Gold Fields Namibia ("GFN"). Approximately six years later, the lead smelter was closed permanently. In 1996, TCL’s mining and smelting operations came to a standstill following a prolonged labor strike. This ultimately led to the closure and liquidation of GFN in 1998. In March 2000, Namibia’s High Court accepted an offer from Ongopolo Mining and Processing Limited ("OMPL") to take over GFN’s mines as well as the smelter plant in Tsumeb.

From 2000 to 2008, only the copper section was operational and the arsenic plant was run on a small scale. In July 2006 Weatherly Mining International acquired OMPL. In December 2008 Weatherly suspended all mining operations because of a major decline in the world copper price and only kept the Tsumeb smelter operational. The Smelter transitioned to treating custom concentrates at the beginning of 2009.

In March 2010, Weatherly sold the smelter to Dundee Precious Metals Inc., with Weatherly retaining all mining assets.

Currently, less than half of the smelter’s business comes from the mine in Chelopech, Bulgaria. Additional business is solicited from South America and Europe.

Recent Upgrades by Dundee Precious Metals

The Ausmelt furnace was converted from a lead to a copper smelting vessel in 2010 and is the only primary smelting vessel after the decommissioning of the Reverberatory furnaces in 2013. A new Oxygen Plant was commissioned in February 2014 to increase the efficiency of the furnace and delivers up to 405 tonnes of oxygen per day. This increase allowed operating rates to move from 150,000t/a, of concentrate to 240,000t/a, with sufficient oxygen for an ultimate capacity of 370,000t/a subject to additional plant changes. Fume capture hoods and baghouses to alleviate release of arsenic containing fugitive gasses to atmosphere was installed in 2012 and 2013.

A sulphuric acid plant was commissioned in 2015, the sulphuric acid produced is sold to Rossing Uranium and Tschudi Copper in Namibia. Two new Peirce Smith copper converters were commissioned in the first quarter of 2016. The new copper converters are fitted with tight sealing water cooled primary hooding as well as secondary hooding to minimize the uncontrolled release of fugitive gas containing SO2 into the atmosphere. The off gas from the Ausmelt furnace and the Peirce Smith converters are both treated in the sulphuric acid plant removing sulphur dioxide from the off gas before the cleaned gas is vented into atmosphere.

Sustainable Transformation

After acquiring the smelter, Dundee Precious Metals (DPM) immediately implemented an ambitious plan to bring the operation in line with good industry practice and standards.

Arsenic capture was improved as part of the response to arsenic storage and handling. The arsenic storage site was designed, build and is operated according to good international practice. The site is licensed by the Namibian government and is regularly inspected and audited by 3rd Party auditors.

Workers are regularly tested for arsenic exposure as part of a comprehensive employee health and safety program. Continuous Air Quality monitoring, with data verified by an independent technical party, measure community exposure to arsenic.

Dundee continues to implement international good practices regarding arsenic management, including further reduction of emissions and ensuring safe long-term storage of wastes.

Community Investment is a core value and is taken very seriously. DPM opened an Information Centre in 2012 in the town of Tsumeb, to strengthen communication with the community and to bring services closer to the public. The Information Centre is also the headquarters of the Tsumeb Community Trust which was established in 2010, to provide the community at large with a funding source to address various needs such as education, social and health services.

Stock Quote: TSE

Price 9.41

Change +0.00

Volume 146,619

% Change +0%

Intraday High 9.62

52 Week High 10.73

Intraday Low 9.35

52 Week Low 3.20

Today's Open 9.39

Previous Close 9.41

10/26/2020 11:10 AM ET Pricing delayed 20 minutes
: 1,904.89 ?+2.80


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