Can you provide an update on the latest developments at Kişladağ, particularly the expected construction of a conventional carbon in pulp mill?

The mill project was approved for advancement by Eldorado Gold Corporation’s Board of Directors, Tuprag’s Canadian-based parent company, in late October 2018. The estimated investment is US$520 million, including US$384 million for the mill, US$75 million for pre-stripping, and US$61 million in contingency and growth allowance. The current proven and probable reserves of 3 million ounces of gold support a nine-year mine life, with average annual production of 270,000 ounces of gold at an all-in sustaining cost of US$793 per ounce.

Kişladağ is Turkey’s largest gold mine and is emblematic of the country’s rise in gold mining. What are the benefits of gold mining for Turkey?

 Gold mining provides benefits to Turkey such as job creation, generating economic value, and royalty payments to the province. Kışladağ, in particular, brings job opportunities to the doorsteps of local villagers and the community. It is also a good indicator of Turkey’s attractiveness for foreign investment, showing that foreign investment can be successful by working to international standards, protecting human rights, and giving back to local communities.

What are the strategic objectives for Efemçukuru in the longer term?

Our strategic objective for Efemçukuru is to continue our track record of safe, responsible, and profitable operations. We expect to achieve the 90,000 to 100,000 oz target in 2018 within our budget guidance. We have assigned some capital to enlarge the waste rock area, which has been fully permitted, and also to the dry tailings facility. We are also making other investments to improve technology. Efemçukuru is in a picturesque location in the western side of Turkey, close to the sea and in the middle of a forest, so we are highly motivated to operate to the highest environmental standards. We have an excellent environmental track record and good public and government relations. We will continue to foster these relationships with key stakeholders, fulfill all permitting and regulatory requirements, while focusing on achieving the production figures we have set out for ourselves.

A social license to operate is especially important in Turkey. What are the most important aspects of Tüprag’s engagement strategy with the public?

Tüprag believes that a company can employ the best engineers, construction partners, and staff, but the most important thing is to have good community and government relations. To obtain the social license from the local communities, a company must keep lines of communication open, inform the local community about what has happened, what is happening, and what will happen in the future. It is crucial to have excellent communication with people so that those working around the mine site really feel that it is their mine. Tüprag’s target is to employ 80% or more of its workforce from local areas, giving ownership and possibilities to individuals from surrounding communities. Equally important is having a good reputation and fulfilling all regulatory responsibilities. Tüprag has various CSR projects that promote environmental activities, education, public health, and rural infrastructure, creating credibility in the eyes of local neighbors. Transparency is also essential, and Tüprag conducts tours of its mine sites so visitors can see what is going on and ask questions. Tüprag’s philosophy is “first people, then environment, and then mining.”

What is Tüprag’s vision for the next few years?

Tüprag is constantly seeking new projects in Turkey that can add value to our portfolio. We have a highly experienced team and an extensive database on Turkey, which makes us believe that there is a lot of potential for us to work on new projects. We strongly believe that Turkey has great geological potential.


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