Video News/Mining Forum Americas 2025

Alamos Gold (TSX: AGI; NYSE: AGI) President and CEO John McCluskey says the company’s US$470 million sale of its Turkish development projects marks a turning point. Speaking with Kitco Mining at Mining Forum Americas 2025, he explained that the deal, which includes US$160 million at close and additional payments over two years, is expected to end Alamos’ BIT claim. “With that first payment, we’ll essentially put it against our US$250 million debt. We’ll reduce debt down to less than $100 million,” McCluskey said. In Q2, Alamos produced 137,000 ounces at just under US$1,500 per ounce AISC, generating margins above 50%. Growth is anchored by the Island Gold–Magino complex, where integration supports a 10,000 tpd mill and higher underground throughput. “On a combined basis, we see that mine going to something like 550,000 ounces of annualized production at around $1000 all in sustaining cost,” McCluskey noted. At Mulatos, underground development and a new mill are targeting 140,000 ounces, with exploration spending of US$72 million driving further resource growth.