Centerra Gold Receives Pastureland Permit for Öksüt Project, Turkey
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Centerra Gold’s wholly-owned Turkish subsidiary, Öksüt Madencilik Sanayi ve Ticaret A.S. (OMAS) has received approval of its pastureland permit for the Öksüt Project located in central Turkey.
OMAS has also received notice from the Kayseri Directorate of Food, Agriculture and Livestock for payment of the necessary grass fee (approximately US$4 million) and a refundable deposit to the directorate to commence the land delivery process which converts the pastureland to industrial usage land. It is expected that the land delivery process may take up to 45 days.
“Receiving our pastureland permit is a testament to the perseverance of OMAS’s staff and their efforts to complete the permitting process for the project. Öksüt is expected to be another of the company’s low-cost operating sites, and the completion of the permitting process has now paved the way for the project’s future development,” said Scott Perry, chief executive officer of Centerra.
Construction of the Öksüt Project is subject to board approval, which the company expects to obtain in late February, at which time additional information will be provided regarding 2018 expenditures and timing.
About Centerra Gold
Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold properties in North America, Asia and other markets worldwide. Centerra operates two flagship assets, the Kumtor Mine in the Kyrgyz Republic and the Mount Milligan Mine in British Columbia, Canada and is the largest Western-based gold producer in Central Asia. Centerra’s shares trade on the Toronto Stock Exchange. The company is based in Toronto, Ontario, Canada.
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