Acacia Mining Operations

Acacia Maden Isletmeleri A.Ş. (AMI) is owned by Turkey’s leading and innovative companies Akfen Holding, Ilbak Holding and Izbir Madencilik. AMI owns and operates a 2 million tonnes per annum open pit copper mine in Hanonu District of Kastamonu Province, namely Gokirmak Copper Mine (GCM). Access to the mine is either via the airport of Kastamonu, 80 km to the southwest of Hanonu or via airport of Sinop, 120 km to the northeast of Hanonu. Final investment decision was taken for GCM in 2016; while the first exploration studies started in 2006. As of the beginning of 2019, there is a 24 million tonnes of JORC Compliant Reserve with an average 1.5 % Cu grade in GCM, which corresponds to 12 years of life of mine with high potential for further exploration success. AMI, with its strong equity structure and overseas loan support, continuously improves its performance through the application of best available techniques, including but not limited to National Legislations, IFC and World Bank Guidelines in all areas of its business.