3rd Mar 2023 17:45
Ariana Resources PLC - mineral exploration and development company with gold mining interests in Europe - Provides an update on construction progress at the Tavsan mine, of which it owns 24%. Says the Kutahya Administrative Court in Turkey has temporarily suspended the construction activities of Tavsan mine operator Zenit Madencilik San ve Tic AS until a new report relating to the environmental impact assessment is submitted to the court. This has resulted in a temporary stay on the environmental impact assessment positive status of the project. Zenit temporarily suspends construction activities at the Tavsan mine to comply with the judgement, though other activities - such as water pipeline construction and boundary fence installation - continue.
Managing Director Kerim Sener says: "While this is disappointing news for the construction of our second mine at Tavsan, which will result in some delay to the completion of the mine, Zenit has determined to pursue its legal rights and to continue various development activities at the Project. This situation is not at all unprecedented and several other operations have successfully progressed through similar hurdles."
Current stock price: 2.80 pence
12-month change: down 26%
By Heather Rydings, Alliance News senior economics reporter
Comments and questions to [email protected]
Copyright 2022 Alliance News Ltd. All Rights Reserved.
Related Shares:
Ariana