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English
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Hayır (No)
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-
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Hayır (No)
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As a result of the drilling works carried out in the Bingöl-Avnik iron mine field licensed in the name of our subsidiary Erdemir Madencilik Sanayi ve Ticaret A.Ş. (Ermaden), intense mineralization was detected and it was decided to establish a Pelletizing Plant. The approximate cost of this investment, which has an approximate total iron ore reserve of 250-300 million tons, is 550 million USD. In the Pelletizing Plant with an annual pellet production capacity of 3.0 million tons, it is aimed to produce more than 100 million tons of pellets within the scope of iron ore reserves.
Upon the completion of the investment, it is expected that the profit increase to be obtained from the activities at today's prices will be approximately 200-250 million USD per year, according to the pre-feasibility evaluations. It is foreseen that the rate of self-sufficiency in pellet, which is one of the important raw materials of our company, will increase from 25-30% to 80-85%, and the rate of self-sufficiency in total ferrous raw materials will increase from 15-20% to 40-45%.
With the Pelletizing Plant to be established in Bingöl-Avnik, it is aimed to increase the self-sufficiency rate while ensuring raw material supply security in our company's steel production and to contribute to the domestic economy by reducing the rate of imported pellets in our country.
Further developments will be made available to public.
In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.
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We proclaim that our above disclosure is in conformity with the principles set down in “Material Events Communiqué” of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we’re personally liable for the disclosures.