Aldridge gets environmental approval for Yenipazar project, Turkey

6 March 2014 (Last Updated March 6th, 2014 18:30)

Aldridge Minerals has secured environmental approval for its Yenipazar project in central Turkey.

Aldridge Minerals has secured environmental approval for its Yenipazar project in central Turkey.

The development stage mining firm said the Ministry of the Environment and Urbanisation in Turkey, has signed and issued formal approval in the form of an Environmental Impact Assessment positive decision certificate (EIA) for Yenipazar.

Aldridge Minerals chairman Barry Hildred said that with the EIA approval, the company is well-positioned to advance the Yenipazar project towards mine financing and construction.

"The completion of this important permitting milestone is the culmination of several years of baseline studies, fieldwork and analysis by numerous consultants and the Aldridge team," Hildred said.

"The company is well-positioned to advance the Yenipazar project towards mine financing and construction." 

In May 2013, Aldridge completed the feasibility study for the polymetallic project, which holds a gold-silver-copper-lead-zinc mineral deposit.

The company is currently seeking to advance the property on permitting and project financing.

Aldridge undertook a testwork programme as part of the feasibility study to establish the process design parameters, formulate the process flowsheet, select equipment, evaluate ore variability and confirm metallurgical recoveries.

The development includes about 9.5km² of land within the project fence line. The project's pre-production capital costs are estimated at about $382m, based on the first quarter of 2013 costs.

Aldridge said the mineral reserves for the project comprise three different mineralisation types to be mined and processed, which include oxide mineralisation, copper-enriched mineralisation and sulphide mineralisation.

The project will be connected to the national grid with the construction of a 17km 154kV power line.

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