Alamos Gold Inc. reported that it has suspended all construction activities on its Kirazlı project pending the renewal of its Turkish mining concessions which expired on October 13, 2019. Although the mining concessions have not been revoked and can be renewed following this expiration date, no further construction activities can be completed until the concessions have been renewed.
The company has met all the regulatory requirements and conditions for the concessions to be renewed and reasonably expected the renewal by the expiration date, according to Alamos Gold. Local communities to the Kirazlı project remain supportive. The company is working with the Turkish Department of Energy and Natural Resources on securing the renewal of the mining concessions, which will allow for a resumption of construction activities. The renewal is required from the same government department that granted the Operating Permit for Kirazlı in March.
Since 2010, Alamos has been working with the various government ministries and local communities as part of a multi-year environmental review and community consultation process. The company was granted approval of all the major permits needed to build Kirazlı including the Environmental Impact Assessment, forestry permits, GSM and operating permits.
Given the uncertainty around the timing of the concession renewal, initial production from Kirazlı has been delayed from previous guidance of late 2020.
