KOC HOLDING TO PROSPECT GOLD IN IRELAND

Koc Holding’s mining subsidiary Demir Export has inked a deal with Irish Conroy Gold & Natural Resources to prospect gold in the Republic of Ireland and Northern Ireland. Thus, the subsidiary will go international. Demir Export has become a partner to Conroy Gold’s mines including the Clontibret field and those located on the Longford-Down Massif. As part of the agreement, Demir Export will gradually acquire 57.5% of licenses and mines. Koc Holding held a 40% share in the partnership at the first stage. It will increase by a further 14.5% in the second stage. The number of mines that will partner with Demir Export totals 11, nine of which are located in the Republic of Ireland. The remainder are in Northern Ireland, according to Conroy Gold. Around TRY 150m was paid for the agreement KERIM ULKER