Alamos Gold Inc. reported it has been granted an operating permit from the Turkish Department of Energy and Natural Resources allowing for the start of earthworks on the open-pit area of the Kirazlı project. As disclosed in January, the company expects to 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 will be spent in 2020 with initial production expected by the end of 2020.
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