
- Turkey | 28 June 2018

Can you provide us with the main highlights of Meyra’s lead and zinc project in Bursa?
In 2013, Meyra acquired the Bursa project and gained the necessary permissions in 15 months to produce run-of-mine sulfide lead and zinc ore, which was sold to nearby flotation plants. In 2017, the company drilled nine holes and extracted ore in six of them. Meyra has proven that the deposit has 4 million mt of lead and zinc, with a potential size of 65 million to 80 million mt. The company is currently waiting for permission to build a flotation plant and has prepared a capex of US$6 million to US$7 million, including a US$4 million investment in the plant. Additionally, the deposit is conveniently located near Istanbul and the port of Gemlik, and the ore’s mineralization is simple and can easily float, leaving gangue minerals at a rate of 300 microns. Delta acquired 60% of Meyra’s shares in early 2018.
Do you anticipate favorable zinc fundamentals going forward?
Meyra plans to establish a plant and sell to lead and zinc smelters internationally, particularly in China, after receiving permission for the flotation plant. Zinc fundamentals are expected to remain favorable due to the increasing galvanization rates and the metal’s growing use in health applications such as Alzheimer’s treatment.
What is your perspective on base metals in Turkey?
Despite Turkey’s complex geology, there are substantial opportunities in base metals, especially for mid-sized companies. Therefore, foreign investment in this sector is likely to increase. However, investment has slowed down recently due to the elections. There has been significant investment in a copper mine and flotation plant in Kastamonu.
What are the challenges of operating in Turkey?
It is difficult to find mining talent in Turkey, particularly drilling professionals, and the supplier base for drilling is not advanced enough. Engineering is also not highly regarded in Turkey. More foreign players are required in the market to drill to international standards. Meyra is awaiting more operational legislation from the government, as it is not clear and reflects how Turkey is still relatively new to mining.