London-based mining firm ACG Metals announced that its Gediktepe Mine in Turkey successfully produced its first batch of copper concentrate on August 31, marking the company's official completion of its strategic transformation into a copper business.

Located in Balıkesir Province in western Turkey, this open-pit polymetallic mine was fully acquired by ACG Metals in September 2024, giving the company 100% ownership. Historically, the mine focused on gold, silver and zinc production, but has shifted its focus to copper resource development driven by growing copper demand fueled by electrification and the AI industry.

The first batch of copper concentrate produced this time was within the project budget, and the mine has entered the production capacity ramp-up phase. The core tasks at this stage are to increase the mineral processing throughput, optimize the production recovery rate, and stabilize the quality of the concentrate products. The company plans to achieve full commissioning of the mine by the end of 2026, with a target annual copper output of 40,000 tons after reaching full production.

Artem Volynets, Chairman and Chief Executive Officer of ACG, stated that the company will steadily advance the capacity ramp-up and move towards normalized and stable production. Against the backdrop of rising global copper demand, the commissioning of this project also adds an important new copper supply source for the company.

SunSirs has been continuously tracking price data for over 200 commodities for nearly 20 years, please contact support@sunsirs.com for subscription.