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Centerra Gold Receives Pastureland Permit For Öksüt Project

Kitco News

Centerra Gold Inc. (TSX: CG) says that its Turkish subsidiary has received approval of a “pastureland permit” for the Öksüt project in Turkey. The company has also received notice from the Kayseri Directorate of Food, Agriculture and Livestock for payment of the necessary “grass fee” of approximately $4 million and a refundable deposit to the Directorate to begin the land-delivery process that converts the pastureland to industrial usage land. The land-delivery process is expected to take up to 45 days. “Öksüt is expected to be another of the company’s low-cost operating sites, and the completion of the permitting process has now paved the way for the project’s future development,” says Scott Perry, chief executive officer of Centerra. Construction of the project is subject to board approval, which the company suggests may occur in late February.

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