The premises belonging to third parties located in the mining operation license area 82050 within the borders of Bilecik province, Söğüt district, where the Söğüt Gold Mine Project is located, by our company Gübretaş Maden Yatırımları A.Ş., were expropriated with the Presidential Decision dated 16 October 2021 and numbered 4626.
The statement made by Gübretaş to the Public Disclosure Platform within the scope of our company’s expropriation decision is as follows:
“In order to bring the Söğüt Gold Mine, which will provide one of the most important contributions towards the gold production target of our country and contribute positively to the closing of the foreign trade deficit in the country’s economy, to be put into the production phase immediately and to bring it into the national economy, an application was made to the General Directorate of Mining and Petroleum Affairs on 25.03.2021 for urgent expropriation of the premises belonging to third parties located in the mining operation license area 82050 within the borders of Söğüt District of Bilecik Province, where the Söğüt Gold Mine Project is located, by our subsidiary Gübretaş Maden Yatırımları A.Ş.
With the Presidential Decision dated 16.10.2021 and numbered 4626, it was decided that the premises within the boundaries of the mentioned mining license area and required for gold+silver ore production be expropriated immediately by the General Directorate of Mining and Petroleum Affairs, pursuant to Article 27 of the Expropriation Law No. 2942 and this decision was published in the Official Gazette dated 17.10.2021 and numbered 31631.
After the registration process of the premises properties annexed to the Presidential Decree is completed in the name of the treasury, the allocation process to Gübretaş Maden Yatırımları A.Ş. to engage in construction and mining activities will be started immediately.”
Gübretaş Maden Yatırımları A.Ş.