Centerra’s Öksüt Gold Project Receives Environmental Approval

Centerra Gold reported that the environmental impact assessment (EIA) for its 100% owned Öksüt gold project in south-central Turkey has received final approval from the Turkish Ministry of Environment and Urbanization. The project is planned to produce a total of 895,000 ounces (oz) of gold over an eight-year mine life, including an average of 155,000 oz/y during the first four years. Pre-production expenditures and construction capital to develop the project are estimated at $221 million, including a $25 million contingency.

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Intense Scrutiny and Hostility

At the same time, North Korea is shunned by much of the global community. Its human rights record is the subject of constant scrutiny. Not surprising then, that the announcement of the Jongju discovery has brought intense scrutiny, and with it suspicion and even outright hostility by some North Korea watchers.

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Construction Starts at Kiziltepe Gold Mine in Western Turkey

Ariana Resources reported in early September that mine construction has begun at the Kiziltepe gold project on the joint-venture Red Rabbit property in western Turkey. Proccea Construction Co. is Ariana’s partner in the project and is managing construction. The companies anticipate that the mine will pour its first gold in the second half of 2016. Production is planned to average 20,000 ounces per year (oz/y) of gold.

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