Centerra Gold Inc.’s wholly-owned Turkish subsidiary, Öksüt Madencilik Sanayi ve Ticaret A.S. (OMAS) has been granted a pastureland permit for the Öksüt project in central Turkey.
OMAS has also received notice from the Kayseri Directorate of Food, Agriculture and Livestock (Directorate) 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.
Scott Perry, CEO of Centerra, stated: “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.”
Construction of the Öksüt project is subject to board approval, which the company expects to obtain in late February.