ACG provides operations update
Published by Jess Watts,
Editorial Assistant
Global Mining Review,
In the first quarter of 2025, the Gediktepe Mine delivered strong operational performance compared to 1Q24, achieving a 29% increase in gold equivalent production yielding 16.2 koz of gold equivalent sales. In addition, ACG maintained cost discipline in decreasing AISC by 13% while benefitting from a 38% increase in realised gold prices.
The Gediktepe Sulphide Expansion Project also continued to advance on schedule and on budget, with major early works completed and construction activities expected to ramp up materially in the coming quarter.
At the same time, ACG has significantly strengthened its capital structure through the early repayment of acquisition and a portion of the shareholder loans. The successful completion of share and cash tender offers to significantly simplify the equity capital structure and the execution of a gold hedging strategy to protect near-term cash flows.
Artem Volynets, Chairman and CEO of ACG, said:
“The first quarter of 2025 has further demonstrated the strength and reliability of our operations at Gediktepe, as well as the exceptional performance of our team. We have already delivered nearly 50% of the full-year production forecast shared during the bond roadshow last year, with further inventory in hand – a strong indicator of our performance trajectory and conservative projections to investors. Even as the market faced inflationary pressure in Türkiye, we controlled costs resulting in a decrease compared to the first quarter of last year.”
Read the article online at: https://www.globalminingreview.com/finance-business/01052025/acg-provides-operations-update/
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