Alacer Gold receives approval of permits for Çöpler mine in Turkey

20 April 2016 (Last Updated April 20th, 2016 18:30)

Alacer Gold has received approval of various permits from the Turkish authorities for its Çöpler mine.

Alacer Gold has received approval of various permits from the Turkish authorities for its Çöpler mine.

The forestry permits are needed to construct the sulfide plant and the supporting infrastructure, as well as the tailings storage facility.

The permits also allow for completion of the remaining 30% of the heap leach pad phase 4 (HLP4) expansion.

Other exploration permits will allow the company to continue drilling in and around the Çöpler district.

"We can now progress the Sulfide project to board approval and expect to provide a comprehensive project update in May."

Alacer Gold president and CEO Rod Antal said: "We can now progress the Sulfide project to board approval and expect to provide a comprehensive project update in May.

"The permits also allow us to complete the expansion of the heap leach pad on schedule."

Alacer has an 80% interest in the Çöpler gold mine in Turkey, which is operated by Anagold Madencilik Sanayi. The remaining 20% interest in the mine is owned by Lidya Madencilik Sanayi.

Alacer has already secured all land use permits for expansion of the heap leach pad to 58 million tonnes.

The Sulfide project will add 22 years of production at Çöpler and would also bring Çöpler's remaining life-of-mine gold production to 3.7 million ounces at an industry low all-in sustaining costs, averaging $6371 per ounce.

Çöpler is expected to produce 150,000oz to 170,000oz of gold during 2016.

Çöpler's oxide ore is currently being processed in a conventional crush, agglomeration, heap-leach and gold recovery circuit.