DPM Metals (DPM) Mining Forum Europe 2026 summary

Production and operational milestones

• Targeting a sustainable production rate of 850,000 tons per year, with key milestones including the commissioning of the paste backfill plant, which remains on schedule for Q3 and is not expected to be a bottleneck due to contingency plans in place.

• $100–$125 million in CapEx this year is focused on operational sustainability, with $10 million allocated for exploration to expand the resource base.

• Workforce development emphasizes training local staff and reducing reliance on expatriates, leveraging expertise from the Chelopech operation.

• A 20-day shutdown for tailings maintenance in Q2 is not expected to impact sales guidance, supported by a disciplined operational track record.

Exploration and project development

• Dumitru Potok resumed drilling in Q1 with a 20,000-metre program aimed at expanding the gold-copper resource, with expectations for significant growth beyond the current 4 million ounces.

• Čoka Rakita, discovered in 2022, is progressing through permitting with construction targeted for 2027; the permitting process is seen as efficient and similar to other Balkan jurisdictions.

• The Chelopech Wedge zone discovery shows grades 2–5 times higher than current reserves, with potential to extend mine life beyond the current 10 years.

Strategic and financial outlook

• Balkan operations benefit from strong infrastructure, educated workforce, and manageable supply chain and energy risks, supporting nearly $1 billion in free cash flow this year.

• Loma Larga is considered optionality and not a current growth focus, with strategic emphasis on Balkan assets.

• Cost structure remains stable, with electricity as a higher cost component than fuel, but overall volatility is low and well-managed.

• Ada Tepe processing facilities will be decommissioned and repurposed for Čoka Rakita, with personnel being retrained and redeployed.