As announced in our material disclosure published on the Public Disclosure Platform on 3 November 2022, it was decided to establish a Pelletizing Plant with an approximate cost of 550 million USD in the Bingöl-Avnik iron mine field licensed in the name of our subsidiary Erdemir Madencilik Sanayi ve Ticaret A.Ş. (Ermaden).
Within the scope of the relevant investment, 80 percent of the drilling works were completed in 2023 and drilling activities continue in 2024. The largest drilling work in the history of the Republic of Türkiye has been carried out in the mentioned area, and the construction of the investment, which has a total iron ore reserve of approximately 250-300 million tons, has started.
In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.
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