Mining Operations
The Group executed an agreement to transfer one (1) of its mining licenses with an operating permit located
in Yenice, Çanakkale, to CVK Maden İşletmeleri San. ve Tic. A.Ş, and the transfer process has been completed. Under the terms of the agreement, the acquirer, CVK Maden İşletmeleri San. ve Tic. A.Ş, will pay the Group a monthly share of 7% based on the average grade and total tonnage of the run-of-mine ore produced. The agreement will remain in effect until Nov. 1, 2049, comprising a two (2)-year R&D period followed by a thirty (30)-year operating period.
Additionally, a Group subsidiary executed an agreement to transfer two (2) mining licenses with operating permits located in Bayındır, Izmir, to CVK Maden İşletmeleri San. ve Tic. A.Ş, and the transfer process has been completed. The two (2) licenses subject to the transfer were subsequently consolidated into a single license by CVK Mining. Under the terms of the agreement, the acquirer will pay the transferor a monthly share of 7% of the run-of-mine ore produced. The agreement will remain in effect until Nov. 1, 2049, comprising a two (2)-year R&D period followed by a thirty (30)-year operating period.
The Group also executed an agreement to transfer one (1) mining license with an operating permit located in Çukurca, Hakkari, and the transfer process has been completed. Under the terms of the agreement, the acquirer will pay the Group a monthly share of 10% based on the average grade and total tonnage of the run-of-mine ore produced. Pursuant to the agreement, it will remain valid for a ten (10)-year period, consisting of a one (1)-year R&D period followed by a nine (9)-year operating period.
Furthermore, the Group entered into an agreement for the operation of one (1) of its mining licenses, located in Elbistan, Kahramanmaraş, under a royalty system. The agreement covers a one (1)-year R&D period and a nine (9)-year operating period and will remain valid until 2032. Under this royalty arrangement, the Group will receive a share equal to one-third (1/3) of the monthly revenue remaining after deducting the relevant month’s operating expenses.
Construction
a) The Group is continuing the KRİSTALŞEHİR construction project on Block 1088, Plot 1 in Esenyurt, Istanbul. The project comprises 4,356 residential units and 82 commercial units across 18 blocks, together with social facilities. Of the total residential units attributable to the Group, 3,139 apartments along with 51 commercial units have been sold against advances. As of Dec. 31, 2025, invoices had been issued for 3,139 delivered residential units and 51 commercial units. Invoicing for the remaining apartments sold against advances will be performed upon delivery.
b) The Company signed a revenue-sharing agreement with the landowners to develop a project on a plot of land registered at Block 645, Plot 2, with a total area of 42,966 square meters, located in Firuzköy Neighborhood, Avcılar District, Istanbul Province. A total of 473 apartments and 25 commercial units will be constructed on said land.
c) The Company signed a revenue-sharing agreement with the landowners to develop a project on a plot of land registered at Block 637, Plot 4, with a total area of 32,310 square meters, located in Firuzköy Neighborhood, Avcılar District, Istanbul Province.
d) The Group signed a land-for-units agreement with the landowners to construct a residential project on a total of 117,000 square meters of land comprising various plots in Başakşehir district, Istanbul. Construction will commence upon completion of project work.