Centerra Gold’s Turkish subsidiary Öksüt Madencilik Sanayi ve Ticaret (OMAS) has received approval for its pastureland permit for the Öksüt Project located in central Turkey.

The Turkish firm also received notice from the Kayseri Directorate of Food, Agriculture and Livestock (Directorate) for payment of the necessary ‘grass fee’ of around $4m, and a refundable deposit to start the land delivery process, which converts the pastureland to industrial usage land.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

According to the company, the land delivery process is expected to take up to 45 days.

Centerra chief executive officer Scott Perry said: “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.”

“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 secure next month.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

After securing approval, the company would provide additional information regarding 2018 expenditures and timing.

Centerra is engaged in the operation, exploration, development, and acquisition of gold properties in North America, Asia, and other markets worldwide.

The company’s two assets include the Mount Milligan Mine and the Kumtor Mine, which are located in Canada and the Kyrgyz Republic respectively.