Çöpler Sulfide Expansion

Au Gold
Share Holders:

With the NI43-101 report published on March 30, 2015, it was detected that Çöpler’s sulfide mineralization part could be economically transformed into minerals and a decision process was started for the investment. Within the scope of the project, the goal with the Çöpler Sulfide Expansion Project, the technical and financial infrastructure of which was completed in 2016 and the construction of which has begun, is to produce approximately 4 million ounces of gold from the ore that will be enriched with the POX (pressure oxidation) method until 2037. With the Sulfide Expansion Project, the mine life will be extended to 2037 and the works of source developing and drilling at and around the project area will proceed.

The detailed engineering study has been given to AMEC Foster Wheeler with the EPCM agreement and the construction activities have been given to GAP İnşaat. A project financing agreement worth 350 million dollars has been made for the Çöpler Sulfide Expansion Project by the partnership of BNP Paribas, ING Bank, Societe Generale Corporate & Investment Banking and UniCredit Bank Austria. With this agreement which is numbered in Turkey and the world in terms of financial size, the sulphite expansion investment of Çöpler has gained great strength. This project will provide great contributions to national economy and the region’s employment.