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Koza Altin and Lonmin to Explore for Gold and Silver in Northern Ireland

Turkeys most significant gold explorer and producer, Koza Altin, is to investigate the magnitude of reserves to be found in Northern Ireland.The gold mi...

Admin
|May 28|magazine3 min read

Turkey’s most significant gold explorer and producer, Koza Altin, is to investigate the magnitude of reserves to be found in Northern Ireland.

The gold mining company said it has signed a memorandum of understanding with South African platinum miner Lonmin’s Northern Ireland branch which permits the exploration of gold and silver across the UK territory.

There has been mining in the Irish border region across counties Armagh and Monaghan for centuries, but the most precious metals were missed, and until recently optimism over the existence of gold deposits had disappeared.

However, at the start of this year a six-year air and land survey concluded that at least 15 million ounces exist in one license area alone on the border, grabbing the attention of exploration companies.

There are other working mines in Northern Ireland, for instance the Canadian company Dalradian has an operation in the Omagh area of County Tyrone, and politicians are keen to get more operators on board and sell off licenses to help boost their economic outlook.

Koza Atlin reported in April that it had set up a wholly-owned subsidiary in Britain to organise and undertake mining activities abroad.

It is the leading gold producer in Turkey, with 56 operating licenses and a further 339 exploration licenses covering the Aegean and Marmara regions, the Black Sea region and Central and Eastern Anatolia.

In the first quarter of this year it produced 96 koz of gold from its six operating mines.