9.4 C
Belgrade
Supported byspot_img
spot_img

Stratex Intern Altintepe gold mine increases production in 2016

Member of Europium Groupspot_img
Supported byspot_img

Altıntepe Madencilik gold mine has generated total revenues of US$14.3 million.

Stratex International’s was the sector’s biggest riser in late trading after reporting a significant increase in gold production on its 45%-owned Altıntepe gold mine in Turkey in the first 2.5 months of the year.

First gold pour was reported at the end of 2015 and sales up to 16 March stood at 12,280 oz gold, and to date the operating company Altıntepe Madencilik has generated total revenues of US$14.3 million.

Supported by

Chief executive Bob Foster said:: “Altıntepe has seen a significant increase in gold production in the first 2.5 months of the year and is on target to deliver the minimum expected annual production of 30,000 oz gold during 2016. Our partner Bahar Madencilik has managed the initial ramp-up very successfully and we are now working closely with them to optimise the mine development schedule for the next few years. This will allow us to critically evaluate the requirements for working and development capital.”

Supported byElevatePR Digital

Related News

Phoenix Tailings pioneers eco-friendly process to recover rare earth metals from mining waste

As the world moves towards cleaner energy solutions, there is an increasing demand for critical metals, particularly rare earth elements, which are essential for...

Guyana’s $1.5 billion Oko West gold project to strengthen mining sector by 2027

The US$1.5 billion Oko West gold project in Guyana’s Region Seven is expected to significantly enhance the country's mining industry when operations commence in...

Huayou Cobalt seeks $2.7 billion in financing for Indonesia battery-nickel project backed by Ford

Zhejiang Huayou Cobalt Co., one of the world’s largest producers of nickel, is in talks with banks to raise approximately $2.7 billion for its...

U.S. Judge dismisses some claims in lawsuit against Rio Tinto and former CEO over Mongolian Oyu Tolgoi copper and gold mine delays

A U.S. District Judge dismissed several claims in a lawsuit alleging that Rio Tinto and its former CEO Jean-Sebastien Jacques defrauded investors by concealing...
Supported by
Supported by
Supported by
error: Content is protected !!