Alamos suspends construction activities at Kirazli
Canadian miner Alamos Gold has suspended construction activities on its Kirazlı project, in Turkey, and says that the mine will not meet its target of initial production by late next year.
This comes as the company’s mining concessions in Turkey expired on Sunday.
The project has been in the spotlight in recent months, following protests against the proposed mine over environmental concerns, including deforestation around the mine site and fears over the mine’s use of cyanide.
The licences had not been revoked and could be renewed, Alamos said in a statement on Monday, adding that it was working with the Turkish Department of Energy and Natural Resources on securing the renewal of the mining concessions.
The renewal was required from the same government department that granted the operating permit for Kirazlı in March.
Alamos also again defended its project against “false information” that it said was spread about project through social media. The company previously said that it had paid for future reforestation at the site and has denied cyanide would leak into the surrounding area.
The company said it would provide an updated guidance on the construction schedule and budget for Kirazlı following the receipt of the concession renewal and resumption of construction activities.
The company said in March that it would spend $75-million in 2019 on completing work on the water reservoir and ramping up major construction activities and earthworks. The remaining $60-million of Kirazlı’s total initial capital budget of $152-million was earmarked for 2020.
Kirazlı will produce more than 100 000 oz of gold during its first full year of production at mine-site all-in sustaining costs of less than $400/oz. This is expected to bring consolidated production to more than 600 000 oz/y, while significantly lowering the company’s cost profile.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation