Alamos Gold announced T.C Ministry of Energy and Natural Resources has granted the Operating Permit for the Kirazlı Project. Receiving the permit will allow the company to start of earthworks on the open pit area of the project.
Releasing an update on January 2019, Canadian company announced that they will 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.
The company’s aims to produce an average of 100,000 ounces of gold annually in the Kirazlı Project.
