Ariana Resources reports profitable year and strategic growth

LONDON - Ariana Resources plc, the AIM-listed mineral exploration and development company, reported a pre-tax profit of £2.7 million for the year ended December 31, 2024, a significant improvement from the previous year’s £0.1 million. The company, with gold mining interests in Africa and Europe, attributed the increase primarily to its share of profits from the Zenit Madencilik partnership in Türkiye, which amounted to £5.7 million.

The Kiziltepe Mine, operated by Zenit Madencilik, continued to exceed production forecasts for the eighth consecutive year, with gold production reaching 20,866 ounces and revenue of US$54.7 million. The Tavsan Mine began mining operations early in the year, with its processing plant and infrastructure under construction. The Salinbas Gold Project in Türkiye also made significant progress, achieving critical milestones in permitting and development.

Ariana’s strategic interest in Western Tethyan Resources and partnership with Newmont Mining Corporation (NYSE:NEM) expanded its exploration footprint across the Balkan region, particularly in Kosovo and North Macedonia. The company also refocused the strategy of Venus Minerals and now maintains a copper and gold portfolio in Cyprus ready for integration into a potential new structure.

The all-share acquisition of the Dokwe Gold Project in Zimbabwe marked a departure from Ariana’s prior regional focus but is supported by deep connections and expertise across the southern African region. The Dokwe Project, now Ariana’s flagship project, represents a major new gold project with multi-million ounce exploration and development potential.

Despite global uncertainties, Ariana’s diversified geographic footprint and lean but highly-skilled team have allowed it to navigate challenges with resilience. The company’s commitment to sustainability and responsible stewardship is evident in its operational philosophy, with teams working closely with local communities to promote education, training, and environmental awareness.

Looking ahead to 2025, Ariana remains focused on advancing its diverse project portfolio, with key priorities including the Feasibility Study of the Dokwe Gold Project, completing construction at Tavsan, and advancing Salinbas towards a revised Mineral Resource Estimate. The company also aims to identify new exploration opportunities and improve cost and environmental performance across all operations.

The information in this article is based on a press release statement.

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