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Anatolia Minerals commences Copler Gold Mine construction
TORONTO, Sept. 23 /CNW/ - Anatolia Minerals Development Limited ("Anatolia" or the "Company") (TS...
About this update from Allied Strategic Resources Corp
[{"type":"text","content":"\n\n\n\nTORONTO, Sept. 23 /CNW/ - Anatolia Minerals Development Limited\n("Anatolia" or the "Company") (TSX: ANO) today announces construction is\nbeginning on its Copler Gold Mine ("Copler") in Turkey.\n\n\nAnatolia will begin mobilization of the main earthworks and civil works\ncontractor immediately. Construction management is being provided by SNC\nLavalin. The project schedule targets first gold pour in late 2009. Anatolia\nwill then ramp up production throughout 2010 to achieve full production goals\nby 2011.\n\n\nEdward C. Dowling, President and CEO of Anatolia stated, "This is a\nmilestone achievement for Anatolia. I'm pleased we have delivered on the\nobjectives that we outlined at our annual meeting. Since receiving our final\npermits last month, we completed a review of our construction execution plan\nand are ready to proceed. Copler represents an important partnership between\nAnatolia and the communities of the Province of Erzincan."\n\n\nPermitting and pre-construction activities have been ongoing. Anatolia\nreceived its forestry lease permit in August 2008, with final lease\ndocumentation completed September 18, 2008. This was the final permit required\nfor construction. Project financing arrangements for a US$70 million credit\nfacility were announced on August 25, 2008. Construction of a by-pass road,\npower line, company housing, construction management accommodations and water\nwells are either complete or on schedule. Key equipment has been manufactured,\nshipped to Turkey and is available for delivery to the project site. Other\nelements including final land acquisitions and relocation of the Copler\nvillage will continue concurrently with plant construction activities.\n\n\nAnatolia has outlined a multi-phase approach to developing Copler. This\ninitial phase targets near-surface oxide ores, which will be processed through\na 15,500 tonne per day crush-heap leach operation. Management estimates\nPhase 1 will produce 1.3 million ounces gold over an eight year mine life.\nAfter the initial ramp up in 2010, remaining life-of-mine cash costs per ounce\nwill average approximately $290 per ounce gold.\n\n\nIn addition to the start of plant construction, drilling is in process to\nadd oxide ores by converting existing oxide resources to reserves and defining\nadditional oxi...