You remember Alamos Gold, who cut thousands of trees for gold mining near Kazdağları, right?
Alamos Gold, which is based in Canada but does its operations in the country through the company established in the Netherlands due to financial facilities, announced that it suspended its activities in October 2019. Alamos Gold Mining, a subsidiary of the Big East in Turkey, announced the renewal of licenses in a written statement.
In the article I wrote after the announcement, I pointed out that the license was not canceled and drew attention to the company’s statement. In that statement, it was stated that negotiations with the Ministry of Energy and Natural Resources are continuing. Due to this emphasis of the company, I noted that Alamos should not be stopped watching Kirazli activities.
11.2 MILLION EXPENDITURE IN THREE MONTHS
I have not remembered my article that I talked about with the gold mine in Kirazlı, which has not been heard for a long time.
Alamos Gold for 2020 “First quarter” that is, it announced its annual report for the january-march period on wednesday. Despite the Covid-19 outbreak, they announce a strong start to this year. The part which is important for Turkey following: Alamos Gold reported that they spent 1.6 million dollars in January-March period in Kirazlı and paid 1.4 million dollars in working capital.
1.6 million dollars corresponds to 11 million 200 thousand TL with today’s exchange rate. The company’s expenditure of 11.2 million TL in Kirazlı in the 3 months of this year shows that it preserves its hope that the license will be renewed.
There are already interesting statements about this issue in the section related to Kirazli. Stating that they are waiting for the concession to be renewed after suspending all construction activities in Kirazlı on October 14, 2019, the company says:
– Mining privileges have not been canceled. Other construction activities can be completed until the concession is renewed.
– The company has fulfilled all legal requirements and conditions for renewal of concessions. It expects the license to be renewed reasonably until the expiration date.
“LOCAL COMMUNITIES SUPPORT”
Local communities continue to be supportive in Kirazlı. The company is working with the relevant department of the Ministry of Energy to ensure that mining concessions are renewed, which will allow construction activities to resume.
Alamos Gold Mining company in Turkey Big East, had gone to the capital increase after receiving suspended its activities in Kirazli. The capital, which was 344.9 million TL, was increased to 480.5 million TL.
VIRTUAL GENERAL ASSEMBLY
Alamos Gold with shareholders next month “virtual” announced that it would hold a general assembly. It collects requests from the participants on the web. The company’s CEO, McCluskey, announced the Kirazlı project. “A very important resource in low cost increase in production” and stated that it will be one of the highest return projects despite the low capital and operating costs.
“First quarter” specified in the report “Support for local communities” it deserves special attention. Despite the ecological destruction caused and caused by some citizens living in the mine site in Kirazlı, they see this mine as an employment area and “Bread case” as reflected in the media they looked at.
Details of the 11.2 million TL spent by Alamos Gold in Kirazlı in the January-March period are not included in the report.
