Acacia (EBRD-48181)

Countries
  • Turkey
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 29, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Acacia Maden Isletmeleri A.S. (Acacia Mining Operations)
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Mining
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 35.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 275.65 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Oct 27, 2017

Disclosed by Bank Sep 27, 2017


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Project Description
This project finances Acacia Maden Isletmeleri A.S. (Acacia Mining Operations) to develop the Gokirmak copper deposit, including the construction of a copper processing facility and related mine infrastructure.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Acacia Maden Isletmeleri A.S. (Acacia Mining Operations) Acacia Mining Operations is a Turkish mining company. Its key asset is the Gokirmak copper deposit located in the Kastamonu province in northern Turkey. The company is 30 per cent owned by Akfen Muhendislik A.S., 30 per cent owned by Ilbak Madencilik San. Ve Tic. A.S., with the remaining 40 per cent owned by Izbir Maden A.S.
Contact Information
Oznur Izlem Aydin oznurizlem.aydin@acacia.com.tr +90 312 440 9982 +90 312 440 9981 www.acacia.com.tr Karaca Sokak no:32/7 Çankaya, Ankara, Turkey ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.