Özaltın Holding started to do business in the Mining sector as of 2021 in addition to their 5 major lines of business. Özaltın entered the sector through acquisition of shares in Zenit Madencilik A.Ş., a mining company that commenced gold production in 2018, and is currently holder of a 53% stake in the company’s shareholding structure. Share percentage of the other shareholders are as follows: 23,5% held by ProjeA and 23,5% and held by Galata Madencilik (an operating subsidiary of Ariana Resources PLC traded on the London stock exchange).
Zenit Madencilik A.Ş. is the operator of Kızıltepe gold and silver mine located in Sındırgı district of Balıkesir province. Ore extracted by open pit mining are first made subject to a tank leaching process at the company’s plant, followed by production of doré bars containing gold and silver. The doré bars thus produced are sent to a refinery for further purification into pure gold and silver bars which are sold either to the Turkish Central Bank or Istanbul Precious Metals Exchange (IKMB).
In addition to the foregoing, Özaltın also acquired a 53% stake in Pontid Madencilik Sanayi ve Ticaret A.Ş., a wholly owned subsidiary of Ariana comprising the Salınbaş and Ardala advanced stage gold-copper projects in Artvin province. Moreover, ProjeA acquired 23.5% of Pontid's shares from Ariana, thus creating a similar share structure as in Zenit.
With these acquisitions now completed, Özaltın is currently continuing productions at Kızıltepe plant, while aiming to commence productions in Tavşan project asap and proceeding with detailed exploration-development in Salinbaş and Ardala projects at full pace.
Özaltın Holding, with its experienced and competent geoscience staff, is on the lookout for further opportunities with a view to explore-develop, acquire and engage in partnerships for new mining projects both in domestic and foreign jurisdictions.