Mining Activities
The Group has signed an agreement for the transfer of one mining license with operating permits located in Yenice, Çanakkale, to CVK Maden İşletmeleri San. ve Tic. A.Ş, and the transfer process has been completed. CVK Maden İşletmeleri San. ve Tic. A.Ş, which acquired the licenses, will provide the Group with a monthly share of 7% of the average grade and total tonnage of the run-of-mine ore it will produce. The agreement will be valid until November 1, 2049, with a two-year R&D period and a 30-year operational activities period.
Furthermore, the Group’s affiliate company, has signed an agreement for the transfer of two mining licenses with operating permits located in Bayındır, İzmir, to CVK Maden İşletmeleri San. ve Tic. A.Ş., and the transfer process has been completed. The two licenses were subsequently combined into a single license by CVK Maden İşletmeleri San. ve Tic. A.Ş. According to the agreement, the Transferee will pay a monthly share of 7% of the run-of-mine ore produced to the Transferor. The agreement will be valid until November 1, 2049, with two years of R&D and 30 years of operational activities.
The Group has signed an agreement for the transfer of one mining license in Çukurca, Hakkari, with an operating license, and the transfer process has been completed. The transferee will provide the Group with a monthly share of 10% of the average grade and total tonnage of the run-of-mine ore it will produce. The agreement will be valid for 10 years, consisting of 1 year of R&D activities and 9 years of operational activities.
The Group has signed an agreement for the “Royalty Basis” operation of one mining license in Elbistan, Kahramanmaraş, through a royalty agreement. The agreement will cover 1 year of R&D and 9 years of operational activities and will be valid until 2032. The royalty fee for the mining licenses will be distributed to the Group after the operating expenses for the relevant month are deducted from the monthly revenue generated.
Construction Activities
a) The Group proceeds carrying on the KRİSTALŞEHİR construction project on Block No.1, Plot No.1088 in Esenyurt, Istanbul. This project consists of 4.655 residences, 82 workplaces, and social facilities across 18 blocks. 3.122 of the Group’s total apartments and 51 workplaces have been sold with advance payments. As of December 31, 2024; invoices have been issued for 3.090 of the delivered residences and 48 of the workplaces. Invoicing for the remaining apartments sold with advance payments will be made upon completion and delivery of the remaining units.
b) The Company has signed a Revenue Sharing Agreement with the owners of the land registered on Plot no. 2, Block No. 645, with a total area of 42.966 m², located in the Firuzköy district of the Avcılar town of Istanbul. The project will be developed on the land with a Revenue Sharing Agreement. 493 flats and 10 commercial units will be built on the land in question.