Canadian miner Aldridge Minerals Inc. announced that the State-led compulsory land acquisition court process has resulted in the Court issuing its final pricing decision on the last remaining privately-owned land parcel. Following the classification of this parcel, and other parcels where a final pricing decision has already been reached, to Treasury land, Aldridge will have acquired title to or have right to access approximately 99.5% of the Yenipazar project area. Landowners may appeal the final pricing decision to a higher court, but cannot appeal the land title transfer to treasury. Through its mining licenses, Aldridge has the right to access treasury land as per applicable laws.
Aldridge has entered land acquisition phase in late 2014, since than the company successfully purchased over 90% of the required private land by way of a negotiated voluntary process with landowners. The Company relied upon the State-led compulsory land acquisition court process to gain access to approximately 8% of the project area.
The remaining 0.5% of the project area is currently classified as pasture land. The application to convert this land to treasury land to provide Aldridge access has been submitted to the Ministry of Agriculture in Turkey and is in progress. The Company announced that it continues to work with the applicable government departments to advance the application approval process.
For further information: Aldridge Minerals
