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Maduro sold 40% of Venezuela's gold last year amid cash crunch
By: Reuters 7th February 2019 President Nicolas Maduro blew through more than 40% of Venezuela’s gold reserves last year in a desperate bid to fund government programs and pay millions to bondholders. The government sold a total of 73 t of gold to two firms in the United Arab Emirates and another in Turkey, opposition... →
Glencore chair Tony Hayward latest to drop out of Saudi conference
By: Reuters 17th October 2018 Glencore said its chairman Tony Hayward will no longer be attending the Future Investment Initiative conference in Saudi Arabia, confirming a report in the Financial Times. He is the latest top executive to pull out of next week's high profile conference, amid widespread concern about the fate... →
Ramjack introduces outsourced remote operations service to Africa
6th September 2018 Specialised systems integrator Ramjack Technology Services is launching a new service that will allow African mines to run their production and safety systems on a real-time basis from an outsourced control centre in Johannesburg. →
Gold trading volumes double in Turkey amid currency crisis
By: Bloomberg 18th August 2018 First Turkish President Recep Tayyip Erdogan argued citizens should buy gold, then he said sell. Add dramatic swings in the lira, and the country’s traders are now enthusiastically doing both. Gold futures volumes have surged on the Borsa Istanbul as the volatile currency attracts speculation and... →
Turkish court jails executives over 2014 coal mine disaster
By: Reuters 11th July 2018 A Turkish court sentenced five mining executives to up to 22 years in jail on Wednesday for their role in the coal mine disaster in May 2014 that killed 301 people, the ruling showed. The deaths were caused by a fire that swept through the mine in the town of Soma, 480 km south of Istanbul. It... →
Koza Altin, GreenOre to expand drilling for gold in Scotland
By: Reuters 5th April 2018 Koza, whose founder had to abandon his Turkish gold assets, is expanding his operations in Britain with a $1-million programme to drill for gold in Ayrshire, Scotland, together with a venture partner, the company said on Thursday. Founder Akin Ipek built a multi-billion-dollar fortune in Turkey... →
Turkish gold businessman to sue Turkey's savings deposit bank
By: Reuters 27th January 2018 The founder of Turkey's biggest mining company Akin Ipek has launched legal action against a Turkish state fund in the latest stage of his battle for control of London-based assets, a spokesman for the British subsidiary said. Turkish authorities have seized hundreds of companies that are now... →
Turkish gold imports hit record 370 t in 2017 – Borsa Istanbul
By: Reuters 19th January 2018 Gold imports to Turkey hit a record 370 t in 2017, more than trebling from 106.1 t, data from Borsa Istanbul showed. This was the highest level of imports since the data was made available in 1995 and well above the previous record of 302 t set in 2013. →
Turkey's gold-buying spree has market wondering how much and why
By: Bloomberg 6th November 2017 Turkey’s central bank is hoarding gold again. The question is, how much and why? Official data show Turkey added 3.8-million ounces of gold worth almost $5-billion to reserves this year. While actual purchases could be much less – the figure is skewed by metal deposited by commercial banks –... →
Turkish firms set for $64bn spending spree to leave home
By: Bloomberg 21st August 2017 Robert Yuksel Yildirim had barely been at the family’s construction-materials business a year before the company won its first international contract. Now, it’s a conglomerate with interests in mining, ports and chemicals across 28 countries. Twenty four years after the deal to import coal... →
Turkish May gold imports highest since August '08
By: Reuters 2nd June 2017 Gold imports to Turkey rose to 48 t in May, up from 23.9 t in April, and marking the highest monthly imports since August 2008, data from the Istanbul bourse showed on Wednesday. Turkey's gold imports rose 17-fold in March, as Turks looked to hedge currency risk ahead of an April 16 referendum,... →
Turkish gold miners operate unhindered during attempted coup
By: Henry Lazenby 18th July 2016 Turkey-focused miner Alacer Gold reported Sunday that the Çöpler mine was operating as normal and that there were no local disruptions in the wake of a military coup d'état attempt on the government of Turkish President Recep Tayyip Erdoğan. The TSX- and ASX-listed company reported that after it... →
Canadian firm eyeing 112 000 oz Tanzania gold project
By: Ilan Solomons 3rd July 2015 Canadian gold producer and investments company AfroCan Resources Gold aims to acquire a Tanzanian property with a 112 000 oz inferred resource. AfroCan CEO Brian Barrett tells Mining Weekly that the company is evaluating exploration company Tanzania Royalty Exploration Corporation’s (TREC’s)... →
Kennametal Opens New Rapid Response Center in Istanbul, Turkey
9th December 2014 New facility joins UK-based center and RRCs in South Korea and Poland in delivering maximum customer value. When it comes to local service, metalworking operations require three things – their problems are understood, they are responded to quickly, and that they get the right solutions. To better... →
Kennametal Opens New Rapid Response Center in Istanbul, Turkey
13th November 2014 New facility joins UK-based center and RRCs in South Korea and Poland in delivering maximum customer value. When it comes to local service, metalworking operations require three things – their problems are understood, they are responded to quickly, and that they get the right solutions. To better... →
Alacer Gold single-minded about lifting near-term output
By: Henry Lazenby 18th September 2014 Turkey-focused intermediate gold producer Alacer Gold is aggressively pursuing near-term growth opportunities. With sulphide ore production the next step at its flagship Çöpler mine, in Erzincan province, which would add about 20 years of positive cash flow to the company’s balance sheet, the... →
TURKISH TRAGEDY
By: Martin Creamer 30th May 2014 Demonstrators light candles at a sit-in protest in Istanbul, Turkey, for 301 coalminers who died this month at the Soma Coal Mining Company, mainly from carbon monoxide gas, which spread quickly through the mine after an explosion. Five company officials have been arrested on negligence charges... →
Turkish coal mine disaster cranks up pressure on miners, utilities
By: Reuters 14th May 2014 A coal mine explosion and fire that has killed over 200 people in Turkey coincides with increased pressure on miners and utilities to drastically improve safety and environmental standards for miners risking their lives. Coal mining is responsible for more fatalities than the production of any... →
Asia
By: Asha Ramsaran 23rd August 2013 Tenders for work in Asia →
Aldridge Minerals president and CEO resigns
By: Henry Lazenby 18th July 2013 Turkey-focused project developer Aldrige Minerals president and CEO Mario Caron has resigned his position, including his seat on the board effective July 31. Aldridge said it had established a special committee of the board that would provide general supervision and management of the day-to-day... →
Despite Turkish protests, it is ‘business as usual’ for Aldridge
By: Henry Lazenby 28th June 2013 Despite the ongoing civil protests that have rocked various Turkish cities during the past month, the country remains an attractive investment destination, and the unrest has not altered the development path for Aldridge Minerals’ flagship Yenipazar polymetallic project. Aldridge president and... →
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