Business
Tavsan Mine Construction Recommences
Tavsan Mine Construction Recommences.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n\n\n\n\n\n\n\n\n\n\n\n\n\n19 July 2023\nAIM: AAU\nTAVSAN MINE CONSTRUCTION RECOMMENCES\nAriana Resources plc (\"Ariana\" or the \"Company\"), an AIM-listed mineral exploration and development company with gold mining interests in Europe, provides the following update on construction progress at the Tavsan Mine (\"Tavsan\" or \"the Project\"). The Project is operated by Zenit Madencilik San. ve Tic. A.S. (\"Zenit\"), in partnership with Proccea Construction Co. and Ozaltin Holding A.S. and is 23.5% owned by Ariana.\nThe Company has been informed that the Kütahya Administrative Court determined to rule in favour of Zenit, thus allowing the recommencement of construction activities of Zenit at the Tavsan mine site. The Zenit team has now remobilised to the site to advance construction operations, taking advantage of the summer weather conditions.\nDr. Kerim Sener, Managing Director, commented:\n\"This is the right outcome for the Tavsan Mine. We have been and always will be committed to developing Tavsan in an environmentally and socially responsible manner, as emphasised in the Environmental Impact Assessment. The local community stands to benefit significantly from the project, ensuring jobs and social development schemes in the years ahead. Not only will the local community benefit, but also the Turkish Government, which remains highly supportive of Zenit's activities.\n\"We thank all those in the Zenit team and our partners, Proccea Construction and Ozaltin Holding for their focus and diligence through this period to ensure that construction at Tavsan could recommence as quickly as possible. We are expecting to visit the site in the next couple of weeks and will be looking forward to seeing the progress being made towards the construction of Zenit's second mine. At this stage, we are planning for large-scale open-pit mining operations to commence during H1 2024.\"\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 (\"UK MAR\").\nContacts:\n \n\n\n\n\nAriana Resources plc\n\n\nTel: +44 (0) 20 7407 3616\n\n\n\n\nMichael de Villiers, Chairman\n\n\n\n\n\n\n\nKerim Sener, Managing Director\n\n\n\n\n\n\n\nBeaumont ...