TURKEY – The Turkish ministry of environment and urbanization has approved the environmental impact study done by Toronto’s Centerra Gold for its Oksut project.
The company’s CEO Scott Perry said, “The company will now focus on obtaining all the necessary land use and other operational permits to allow us to start construction and development of the project late in the first quarter or early in the second quarter of 2016. We are on our schedule so far, with first gold production anticipated in the second quarter of 2017.”
Reserves at the Oksut project on June 30, 2015, were 26.1 million tonnes at an average grade of 1.4 g/t Au containing 1.2 million oz of gold. Life-of-mine gold production is expected to be 895,000 oz after a pre-production expenditure of US$221 million, including contingency.
The history of the Oksut project is posted on the Centerra Gold website.