- Business
- DPM Metals Inc. is a Canadian-based international gold mining company that engages in the acquisition, exploration, development, mining and processing of precious metals, primarily gold, copper and silver deposits. The company operates through segments including Chelopech and Ada Tepe mines producing gold in Bulgaria; the recently acquired Vareš underground mine in Bosnia and Herzegovina producing silver-lead-zinc-gold concentrates; the Tsumeb smelter; and corporate and other activities encompassing exploration projects such as Čoka Rakita in Serbia and Loma Larga in Ecuador. It maintains operations and projects across Bulgaria, Serbia, Ecuador and Bosnia, with headquarters in Toronto, Canada, founded in 1983.
DPM Metals produces approximately 200,000 ounces of gold annually on average over the next three years from its high-margin Bulgarian assets, alongside polymetallic output from Vareš and copper-gold concentrates processed at Tsumeb; the company generates significant free cash flow, holds a growing net cash position of $763 million as of March 31, 2025, and invests aggressively in brownfields exploration while advancing feasibility studies and permitting for growth projects.
In June 2025, the company announced and completed the acquisition of Adriatic Metals plc in September 2025, adding the producing Vareš silver-lead-zinc-gold mine and its prospective 4,400-hectare land package in Bosnia and Herzegovina to its portfolio for enhanced production growth toward 425,000 gold equivalent ounces by 2027; it concurrently changed its name from Dundee Precious Metals Inc. to DPM Metals Inc. Recent developments include inferred mineral resource estimates of 2.6 million gold ounces and 1.9 billion pounds of copper at the Rakita Camp in Serbia announced December 2, 2025, and robust feasibility study results for Čoka Rakita released November 26, 2025 showing $782 million NPV and 36% IRR.