ACG Metals reports $17.6 million in payments to Turkish government

Published 31/07/2025, 10:02
ACG Metals reports $17.6 million in payments to Turkish government

LONDON - Mining company ACG Metals Limited (LSE:ACG) paid a total of $17.57 million to the Turkish government in 2024 related to its Gediktepe Mine operations, according to a regulatory filing released Thursday.

The payments, detailed in the company’s annual Payments to Governments Report, included $9.73 million in taxes, $4.56 million in royalties, and $3.28 million in license fees and other considerations.

The report was published in compliance with the United Kingdom (TADAWUL:4280) Report on Payments to Governments Regulations 2014, which requires extractive companies to disclose payments made to governments related to their mining activities.

ACG Metals, which completed the acquisition of the Gediktepe Mine in September 2024, stated that the mine produced 55,000 gold equivalent ounces in 2024. The company expects the mine to transition to primary copper and zinc production from 2026, targeting annual steady-state copper equivalent production of 20,000-25,000 tonnes.

The report covers payments made during the year ended December 31, 2024, and includes only payments exceeding £86,000, in line with regulatory requirements. The company noted that payments made in currencies other than US dollars were translated using the exchange rate on the date of payment.

The information was filed with the UK Financial Conduct Authority and is available on the company’s website and the National Storage Mechanism.

Based on a company press release statement, ACG Metals describes itself as a company aiming to consolidate the copper industry through acquisitions, with a focus on environmental, social, and governance standards.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.