TURKEY: OUR CORNERSTONE MINES
Kişladağ, our open pit flagship asset, had another solid year with production up approximately 2% year over year. Fleet size was increased in 2014 to accommodate the deepening pit and increased haulage routes. Fleet electrification commenced with the implementation of the first electric shovel. Approval of the supplementary Environmental Impact Assessment (EIA) was received in Q2 2014 which allows for an expanded processing capacity. Results of optimization studies completed in 2014 indicate an optimum production rate of 20 million tonnes per year, taking into account existing plant capacity and available equipment, as well as additional accelerated capital costs. We deferred completion of this expansion at year end and will revisit it in late 2016 when the bulk of capital spending on our other development projects is complete.
Gold production from our underground Efemçukuru mine increased 9% year over year while cash operating costs decreased. Work during 2014 focused on improving efficiencies across the mine’s operations with improvements made in mining methods and the implementation of the Pitram Mine Control software. We continued to mine according to plan with mining commencing in the North Ore Shoot.