Turkey-focused miner Alacer Gold has completed foreign currency forward sales contracts to limit exposure to volatility of the Turkish Lira (TRY), the company announced on Friday.
Alacer, which owns an 80%-stake and operates the country’s Çöpler mine, said the hedging programme covers about 40% of the remaining sulphide expansion project capital expenditures and consigned it able to potentially reduce the overall capital cost of the $744-million project.
