DPM Metals Faces Environmental Setback at Loma Larga Project
DPM Metals Responds to Environmental License Revocation
TORONTO, a recent announcement confirmed that DPM Metals Inc. (TSX: DPM, ASX: DPM) has been notified about the revocation of its environmental licence for the Loma Larga project. This decision was made by the Ministry of Environment and Energy, raising significant concerns for the company and its stakeholders.
Commitment to Environmental Stewardship
David Rae, President and CEO of DPM Metals, expressed the company’s commitment to maintaining the highest standards of environmental stewardship and transparency. He emphasized the importance of adhering to the local laws and regulations. “We pride ourselves on our compliance and dedication towards sustainable practices,” Rae stated.
Concerns Over Revocation
The abrupt revocation of the environmental licence has left DPM deeply concerned. The licence had been issued after a thorough evaluation by the government, which aimed to ensure that the project met Ecuadorian environmental standards. The company remains confident in the robustness of its environmental management approach, stating that existing protections align with established guidelines.
Focus on Water Management and Ecosystem Protection
DPM acknowledges that effective water management and the preservation of the local ecosystem are fundamental aspects of the Loma Larga project. Independent studies, conducted alongside regulatory bodies, have consistently shown that the project poses no harmful effects on the water supply. This data underpins DPM's commitment to environmental integrity.
Next Steps for DPM
In response to the licence revocation, DPM Metals is evaluating all possible avenues to safeguard value for its investors and explore options to maintain flexibility in their operations. The company aims to reassure its shareholders of its dedication to the project's responsible management and commitment to solving these issues.
Understanding DPM Metals’ Core Operations
DPM Metals Inc. is an international gold mining entity headquartered in Canada, with active projects in multiple countries including Bulgaria, Bosnia and Herzegovina, Serbia, and Ecuador. The company strives to establish itself as a mid-tier precious metals supplier by focusing on sustainable gold production and efficient operational strategies.
Strategic Growth and Development
The vision of DPM entails developing quality assets while maintaining a healthy balance sheet to support growth in mineral reserves and production capabilities. By executing disciplined transactions, DPM aims to enhance shareholder returns and establish a strong foundation for future expansion.
Contact Information for DPM Metals
For additional inquiries or comments, stakeholders can reach out to:
Jennifer Cameron
Director, Investor Relations
Tel: (416) 219-6177
jcameron@dpmmetals.com
Frequently Asked Questions
What is the recent development regarding DPM Metals?
DPM Metals has received notification that the environmental licence for the Loma Larga project has been revoked.
How does DPM aim to address the licence revocation?
The company is assessing various options to preserve value and maintain flexibility for their shareholders.
What is the company’s commitment regarding environmental practices?
DPM emphasizes its commitment to responsible environmental stewardship and compliance with local laws.
How does DPM ensure environmental protection for its projects?
Independent studies and expert assessments continually validate that their projects comply with established environmental standards.
What are DPM Metals’ main operational regions?
DPM has operations in Bulgaria, Bosnia and Herzegovina, Serbia, and Ecuador.
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