TORONTO (miningweekly.com) – Canadian miner Alamos Gold has reported that the injunction granted in January against the Turkish Environment Ministry’s August 2014 approval of the environmental-impact assessment (EIA) for its Agi Dagi gold project had been dismissed by the Canakkale Administrative Court.
With this ruling, the Ministry's EIA approval had been returned to good standing.
Toronto-based Alamos on Tuesday said the ruling supported its position that the injunction was invalid given that a 30-day comment period following the August approval yielded no comments.
“Based on this, we believe an appeal to this ruling is not possible and that Alamos is now free to pursue the operating/mine permits for the project,” analysts at Desjardins Capital Markets said in a note to clients.
Meanwhile, Alamos still expected to provide an update on the Kirazli EIA this quarter. The EIA approval was currently being reviewed in the Turkish High Administrative Court after it was appealed through a different process in the Canakkale Administrative Court.
Assuming the Turkish assets were constructed, they could from late 2017 add as much as 250 000 oz/y of gold to Alamos’ current full-year guidance of between 150 000 oz and 170 000 oz of gold.