In Jan-Sept 2014 Dundee Precious Metals Kapan (former Deno Gold Mining) cut its output by 18.53% to 14.7bln AMD.
According to Armenia's Energy and Natural Resources Ministry, during the period the company's ore production dropped by 13.07%, while royalties dropped by 52.72%. In 2013 the company extracted 455,920 tons of ore against 531,667 tons in 2012.
In 2013 the loss of Dungee Precious Metals Kapan made up 6.187bln AMD against 4.7bln AMD in 2012.
Deno Gold Mining was renamed into Dundee Precious Metals Kapan on June 17 2013. It develops the Shahumyan polymetallic deposit, which contains zinc, silver and gold. Presently the company is considering using the open-pit method as a way to boost its production.