Business
Revised Turkish Mining Law
Revised Turkish Mining Law.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n \n\n\n\n\n`\n24 June 2010\nAIM / PLUS Markets: AAU\n\n REVISED TURKISH MINING LAW\n\nAriana Resources plc (\"Ariana\" or \"the Company\"), the gold exploration and\ndevelopment company focused on Turkey, is pleased to announce that the\nGovernment of the Republic of Turkey has passed the revised Mining Law.\n\nThe President of the Republic of Turkey, Abdullah Gül, yesterday signed the Bill\nproviding for modifications to the Mining Law (numbered 5995) in to effect.  The\nrevisions to the Mining Law were earlier accepted and passed by Parliament on\n10th June 2010.  Following the approval and ratification of the Bill by the\nPresident, it has been published in the Official Gazette and has formally become\nlaw.\n\nDr. Kerim Sener, Managing Director, commented:\n\n\"The changes to the Mining Law are, in general, positive and provide for a more\nrobust legislative framework for companies operating in the sector.  Once the\nrevised Mining Law is enforced, The Ministry of the Environment and Forestry\nwill be in a position to issue new forestry permits to the Company for the\npurposes of its ongoing exploration requirements.  We welcome these changes as\nthey provide a new level of clarity which will inevitably spur our activities.\n This is particularly significant given the development being planned on the Red\nRabbit Project.\"\n\n\"The Company will continue to keep shareholders informed of these developments\nand will be preparing a summary of the Mining Law as part of its Quarterly\nReport to be issued following the end of June 2010.\"\n\n\nContacts:\n\n Ariana Resources plc Tel: 020 7407 3616\n\n Michael Spriggs, Chairman\n\n Kerim Sener, Managing Director\n\n\n\n Beaumont Cornish Limited Tel: 020 7628 3396\n\n Roland Cornish\n\n\n\n Alexander David Securities Limited Tel: 020 7448 9820\n\n Nick Bealer / David Scott\n\n\n\n Loeb Aron & Company Ltd Tel: 020 7628 1128\n\n Jonathan Willis-Richards / Frank Lucas\n\n\nEditors' note:\n\nDr Kerim Sener, BSc (Hons), MSc, PhD, is the Managing Director of Ariana\nResources plc.  A graduate of the University of Southampton in Geology, he also\nholds a Master's degree from the Royal School of Mines (Imperial College,\nLondon) in Mineral Exploration and a doctorate from the University of Western\nAustralia.  He is a Fellow of The Geological S...