Stratex Intern Altintepe gold mine increases production in 2016
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.
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.”
Latest Posts
- Europe revives mining to reduce dependence on the import of key raw materials, supply from Serbia as competitive choice
- Europe, Mining key minerals without destroying nature
- Greenland, Eclipse Metals signs research MoU to help create economic benefit
- Europe, Cornwall set for lithium mining boom
- EU outlines new Critical Raw Minerals Act
Popular Post
- Europe revives mining to reduce dependence on the import of key raw materials, supply from Serbia as competitive choice
- Calcium Carbonate Industry, Reshaping the Market Growth, Serbian supplier to match European industrial demand
- What Are The Major Natural Resources Of Macedonia?
- Kyrgyzstan Kumtor gold output accounted for 9.7% of country’s GDP in 2017
- Anglo Asian Mining PLC said the government of Azerbaijan granted it access to the Zangilan district
- Montenegro ore processing and export
- Turkey gold exploration project promotes AU Mariana Resources junior mining Co
- Finland’s government plans to introduce a new tax on minerals extracted by the mining industry
- GBC Oil takes over TransAtlantic Albania oil assets
- Jiangxi Copper China giant took over the Albanian copper Co