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Acacia Mining Operations is a Turkish mining company. Its key asset is the Gokirmak copper deposit located in the Kastamonu province in northern Turkey. The company is 30 per cent owned by Akfen Muhendislik A.S. 30 per cent owned by Ilbak Madencilik San. Ve Tic. A.S. with the remaining 40 per cent owned by Izbir Maden A.S.Get A Quote
Acacia Mining Operations is a Turkish mining company. Its key asset is the Gokirmak copper deposit located in the Kastamonu province in northern Turkey. The company is 30 per cent owned by Akfen Muhendislik A.S., 30 per cent owned by Ilbak Madencilik San. Ve Tic. A.S., with the remaining 40 per cent owned by Izbir Maden A.S.
An approximately USD 35 million convertible loan to Acacia Maden Isletmeleri A.S. AMI or borrower to finance the development of the Gokirmak copper deposit including the construction of a copper processing facility and related mine infrastructure.
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The facility supports the borrower39s efforts in developing the Gokirmak deposit located in the Kastamonu province in northern Turkey. Gokirmak is a world class deposit with measured and indicated resource of 23.67 Mt at Cu grade of 1.64 per cent. The project is expected to produce up to 2 Mtpa of ore by open pit mining during the first ten years. The ore will be processed on-site followed by concentrate offtake.
The project had already been subject to national EIA and public consultations in 2013 and 2014. The Gokirmak River diversion works in the area of open pit mine are completed by the client on behalf of the Water Resources Regulator State Hydraulic Works DSI and were subject to a separate EIA for the Taskopru dam and hydropower plant.
The proposed financing has the potential to generate a positive transition impact by promoting youth and gender inclusion, as well as demonstrating the use of efficient mining technologies. The project is expected to improve the linkages between the industry and trainingeducational institutions, and address skill mismatches through developments of standardised training for youth and increasednbspworkforce diversity. The environmental, social, health and safety standards and requirements applied to the project will bring management practices that go beyond prevailing standards in Turkey.
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