Global Atomic issues on Türkiye
Global Atomic Corporation confirmed that based on initial reports joint venture zinc recycling operation employees have been contacted and are physically unharmed. The plant appears to have received only minor damage due to this week’s earthquake.
At the time of the earthquake, the zinc operation was under a scheduled maintenance shutdown. As communications and power are restored in the region, a thorough assessment of the plant will be conducted.
Global Atomic President and CEO, Stephen G. Roman commented, “We extend our sympathies and condolences to all those affected by this event. The plant was a new build in 2019 and built to modern standards, which include preventive engineering and construction methods employed in earthquake regions. The impact of this earthquake in the region was extensive and we will provide further updates as more information is known”.
About Global Atomic
Global Atomic Corporation is a publicly listed company that provides a unique combination of high-grade uranium mine development and cash-flowing zinc concentrate production. The Company’s Uranium Division includes four deposits with the flagship project being the large, high-grade Dasa Project, discovered in 2010 by Global Atomic geologists through grassroots field exploration.
With the issuance of the Dasa Mining Permit and an Environmental Compliance Certificate by the Republic of Niger, the Dasa Project is fully permitted for commercial production. The Phase 1 Feasibility Study for Dasa was filed in December 2021 and estimates yellowcake delivery to utilities to commence in 2025. Mine excavation began in Q1 2022.
Global Atomic’s Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. (BST) Joint Venture, which operates a modern zinc production plant, located in Iskenderun, Türkiye. The plant recovers zinc from Electric Arc Furnace Dust (EAFD) to produce a high-grade zinc oxide concentrate which is sold to zinc smelters around the world. The Company’s joint venture partner, Befesa Zinc S.A.U. (Befesa) holds a 51% interest in and is the operator of the BST Joint Venture. Befesa is a market leader in EAFD recycling, with approximately 50% of the European EAFD market and facilities located throughout Europe, Asia and the United States of America.
