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Alamos Gold CEO: Turkey Wants To Build Mining Industry


(Kitco News) - The chief executive of low-cost, mid-tier gold producer Alamos Gold Inc. (AGI) says Turkey wants to become a significant mining jurisdiction, and he also looks for more mergers within the gold-mining sector.

Canada-based Alamos Gold owns and operates the Mulatos Mine in Mexico and produced 200,000 ounces of gold at a cash operating cost of $355 an ounce in 2012, which company officials have described as their best year ever. Alamos also has advanced-stage exploration projects in Turkey.

The company obtained its Turkey properties in 2010 and has increased inferred resources from 1 million to 3 million ounces, John A. McCluskey, president and chief executive officer, said at the 2013 BMO Global Metals and Mining conference taking place this week in Florida. The company, currently involved with the environmental-assessment process, is aiming to construct a mine and have a first gold pour at Kirazli in late 2014, with production at Agi Dagi in 2016. It is also working toward development of the Camyurt deposit.

McCluskey said he often hears skepticism from investors about mining in Turkey.

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Reader Comments (1)

There are a number of mining companies that are rising thesedays. This may be the reason that gold is losing its value. I hope they will be able to sort out the things before things gets tough. Thanks for sharing this.

March 12, 2013 | Unregistered CommenterRandall K. Hong

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