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September 17, 2025Alamos Gold exits Türkiye to focus on growth in North America
On 14 September, Canada-based Alamos Gold announced that it would sell its Turkish development projects to Tümad Madencilik Sanayi ve Ticaret for $470-million in cash, exiting the country to focus on growth in North America. The deal covers the Kirazlı, Ağı Dağı and Çamyurt projects in north-western Türkiye, which are held through Alamos’ wholly owned Dutch subsidiaries.
“This transaction marks a positive outcome, allowing us to crystallise significant value for our Turkish assets, and utilise the proceeds to support the development of our portfolio of other high-return growth projects,” CEO John McCluskey said in a statement.
The proceeds will go toward funding the Phase 3+ expansion of Island Gold in Ontario, the Lynn Lake project in Manitoba and the Puerto Del Aire project in Mexico, as well as reducing debt. Alamos, which also operates the Young-Davidson mine in Ontario and the Mulatos district in Mexico, employs more than 2,400 people.
