(Alliance News) - Ariana Resources PLC on Wednesday said it construction recommenced at the Tavsan gold mine site in western Turkey, after a local court ruled in favour of project operator Zenit Madencilik San ve Tic AS.
Turkey-focused exploration company Ariana Resources, which has a 24% interest in Tavsan, said the Kutahya administrative court ruled in favour of Zenit, allowing the recommencement of construction activities.
In March, the Kutahya administrative court temporarily suspended construction activities until a new report relating to the environmental impact assessment is submitted to the court. Zenit complied with the judgment while other activities - such as water pipeline construction and boundary fence installation - continued.
Ariana Resources on Wednesday said the Zenit team has now remobilised to the site to advance construction operations, "taking advantage" of the summer weather conditions.
Zenit operates the project in partnership with Proccea Construction Co and Ozaltin Holding AS.
"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," said Ariana Resources Managing Director Kerim Sener.
"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.
"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 [the first half of] 2024."
Ariana Resources shares were up 6.4% to 2.29 pence each in London on Wednesday morning.
On Monday, Ariana Resources said the total mineral resource of the Slivova gold project in Kosovo has increased by 78% from the previous mineral resource estimate. The updated mineral resource estimate for Slivova was completed by Western Tethyan Resources, of which Ariana Resources holds a 75% interest in.
By Greg Rosenvinge, Alliance News reporter
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