Alamos Gold Announces the Sale of its Turkish Development Projects for Total Cash Consideration of $470 million
Alamos Gold (NYSE:AGI) has announced the sale of its Turkish subsidiary owning the Kirazlı, Ağı Dağı, and Çamyurt projects to Tümad Madencilik for $470 million in cash. The payment structure includes $160 million at closing, followed by two guaranteed installments over two years.
The transaction, expected to close in Q4 2025, includes bank guarantees from investment-grade institutions for the deferred payments. Alamos plans to use the proceeds to support North American growth projects, including the Phase 3+ Expansion at Island Gold District, Lynn Lake Project, and Puerto Del Aire project in Mexico, while also reducing debt.
As part of the deal, ongoing arbitration proceedings between Alamos' Netherlands subsidiaries and Turkey will be discontinued after certain milestones are met.
Alamos Gold (NYSE:AGI) ha annunciato la vendita della controllata turca che possiede i progetti Kirazlı, Ağı Dağı e Çamyurt a Tümad Madencilik per $470 milioni in contanti. Il pagamento prevede $160 milioni al closing, seguito da due rate garantite nell’arco di due anni.
La transazione, prevista per chiudere nel Q4 2025, comprende garanzie bancarie fornite da istituzioni con rating di investimento per i pagamenti differiti. Alamos ha intenzione di utilizzare i proventi per sostenere progetti di crescita nordamericani, tra cui l’espansione Phase 3+ Expansion nel Island Gold District, il Lynn Lake Project e il progetto Puerto Del Aire in Messico, oltre a ridurre l’indebitamento.
Come parte dell’accordo, le controversie arbitrali in corso tra le controllate olandesi di Alamos e la Turchia saranno concluse una volta raggiunte determinate tappe.
Alamos Gold (NYSE:AGI) ha anunciado la venta de su filial turca propietaria de los proyectos Kirazlı, Ağı Dağı y Çamyurt a Tümad Madencilik por $470 millones en efectivo. La estructura de pago incluye $160 millones al cierre, seguido de dos cuotas garantizadas durante dos años.
La operación, que se espera cierre en Q4 2025, incluye garantías bancarias de instituciones de alta calidad crediticia para los pagos diferidos. Alamos planea usar los fondos para apoyar proyectos de crecimiento en Norteamérica, incluyendo la Expansión Phase 3+ en el Island Gold District, el Lynn Lake Project y el proyecto Puerto Del Aire en México, además de reducir la deuda.
Como parte del acuerdo, se descontinuarán los procedimientos arbitrales entre las filiales neerlandesas de Alamos y Turquía una vez alcanzados ciertos hitos.
Alamos Gold (NYSE:AGI)는 Kirazlı, Ağı Dağı 및 Çamyurt 프로젝트를 소유한 터키 자회사를 Tümad Madencilik에 $470백만 현금으로 매각했다고 발표했습니다. 결제 구조는 종가 시점 $160백만를 시작으로, 향후 2년간 두 차례의 보장된 분할 지급으로 구성됩니다.
거래는 2025년 4분기에 마감될 것으로 예상되며, 연체 지급에 대해 투자 등급의 은행 보증이 포함됩니다. 알라모스는 수익금을 북미 성장 프로젝트 지원에 사용할 계획이며, Island Gold District의 Phase 3+ Expansion, Lynn Lake Project, 멕시코의 Puerto Del Aire 프로젝트를 포함하고 부채를 감소시킬 예정입니다.
협정의 일환으로 네덜란드 자회사가 터키와의 중재 절차는 특정 이정 milestones 달성 후 중단될 것입니다.
Alamos Gold (NYSE:AGI) a annoncé la vente de sa filiale turque détenant les projets Kirazlı, Ağı Dağı et Çamyurt à Tümad Madencilik pour $470 millions en espèces. La structure de paiement comprend $160 millions à la clôture, suivis de deux versements garantis sur deux ans.
La transaction, qui devrait être conclue au Q4 2025, comporte des garanties bancaires d’institutions de qualité investissement pour les paiements différés. Alamos prévoit d’utiliser les produits pour soutenir des projets de croissance en Amérique du Nord, notamment l’expansion Phase 3+ Expansion dans le Island Gold District, le Lynn Lake Project et le projet Puerto Del Aire au Mexique, tout en réduisant la dette.
Dans le cadre de l’accord, les procédures d’arbitrage en cours entre les filiales néerlandaises d’Alamos et la Turquie seront interrompues après l’atteinte de certains jalons.
Alamos Gold (NYSE:AGI) hat den Verkauf der türkischen Tochtergesellschaft angekündigt, die die Projekte Kirazlı, Ağı Dağı und Çamyurt besitzt, an Tümad Madencilik für $470 Millionen bar. Die Zahlungsstruktur sieht $160 Millionen bei Closing vor, gefolgt von zwei garantierten Raten über zwei Jahre.
Die Transaktion, deren Abschluss voraussichtlich im Q4 2025 erfolgt, beinhaltet Bankgarantien von Investment-Grade-Institutionen für die ausstehenden Zahlungen. Alamos plant, die Erlöse zu verwenden, um North-America-Wachstumsprojekte zu unterstützen, darunter die Phase 3+ Expansion im Island Gold District, das Lynn Lake Project und das Projekt Puerto Del Aire in Mexiko, sowie die Schulden zu reduzieren.
Im Rahmen des Deals werden die laufenden Schiedsverfahren zwischen Alamos' niederländischen Tochtergesellschaften und der Türkei nach Erreichen bestimmter Meilensteine eingestellt.
ألَماس جولد (NYSE:AGI) أعلنت عن بيع فرعها التركي الذي يملك مشاريع Kirazlı وAğı Dağı وÇamyurt إلى شركة Tümad Madencilik بمبلغ $470 مليوناً نقداً. تتضمن هيكلية الدفع $160 مليوناً عند الإغلاق، يليه قسطان مضمونان خلال عامين.
الصفقة، المتوقع إغلاقها في الربع الرابع من 2025، تشمل ضمانات بنكية من مؤسسات ذات تصنيف استثماري للمدفوعات المؤجلة. تخطط ألَماس لاستخدام العوائد لدعم مشاريع نمو في أميركا الشمالية، بما في ذلك التوسع Phase 3+ Expansion في منطقة Island Gold District ومسار Lynn Lake Project ومشروع Puerto Del Aire في المكسيك، بالإضافة إلى خفض الدين.
كجزء من الصفقة، ستُوقف إجراءات التحكيم الجارية بين الشركات الهولندية التابعة لألماس وتركيا بعد تحقيق معالم محددة.
Alamos Gold (NYSE:AGI) 已宣布以现金 $470 百万美元出售其在土耳其的子公司，所持有的 Kirazlı、Ağı Dağı 和 Çamyurt 项目 给 Tümad Madencilik。支付结构包括 $160 百万美元在签约时，随后在两年内分两笔有担保的分期付款。
该交易预计在 2025 第四季度完成，延迟付款由投资级机构提供银行担保。Alamos 计划利用这笔收益支持北美的增长项目，包括 Island Gold District 的 Phase 3+ Expansion、Lynn Lake Project 以及墨西哥的 Puerto Del Aire 项目，同时降低债务。
作为交易的一部分，在达到某些里程碑后，Alamos 的荷兰子公司与土耳其之间的仲裁程序将予以终止。
- Significant cash consideration of $470 million for Turkish assets
- Payment structure secured by investment-grade bank guarantees
- Proceeds will support development of high-return North American projects
- Opportunity to reduce existing debt obligations
- Resolution of pending arbitration proceedings with Turkey
- Complete exit from Turkish market and loss of potential future development opportunities
- Extended payment timeline with $310 million received over two years post-closing
Insights
Alamos Gold sells Turkish projects for $470M, shifting focus to North American assets while strengthening its balance sheet and growth pipeline.
Alamos Gold has executed a strategic divestiture of its Turkish development portfolio for
This deal represents a clean exit from Turkey after years of regulatory challenges that had prevented Alamos from advancing these assets. The payment structure provides immediate liquidity (
The transaction accomplishes several strategic objectives for Alamos:
- Monetizes non-producing assets that faced regulatory hurdles
- Redirects capital to North American projects with more favorable jurisdictional profiles
- Provides funding for three growth initiatives: Island Gold Phase 3+ Expansion, Lynn Lake Project, and Puerto Del Aire project
- Strengthens the balance sheet by reducing debt
- Resolves pending arbitration proceedings against Türkiye
The transaction effectively de-risks Alamos's portfolio by eliminating exposure to a challenging jurisdiction while securing significant capital for projects in more stable mining regions. This capital redeployment strategy focuses on lower-cost operations, potentially improving the company's overall cost profile and production outlook.
The settlement of the arbitration proceedings against Türkiye, though details remain confidential, suggests Alamos found a more expedient path to value realization than continued legal action. Expected to close in Q4 2025, this transaction marks a significant portfolio reshaping that bolsters Alamos's focus on its North American growth pipeline.
All amounts are in United States dollars, unless otherwise stated.
TORONTO, Sept. 14, 2025 (GLOBE NEWSWIRE) -- Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (together with its direct and indirect subsidiaries, “Alamos” or the “Company”) today announced that its wholly owned Netherlands subsidiaries, Alamos Gold Holdings Coöperatief U.A. and Alamos Gold Holdings B.V. (the “Netherlands Subsidiaries”), have entered into a definitive agreement to sell Doğu Biga Madencilik Sanayi ve Tic. A.Ş., their wholly owned Turkish subsidiary, which owns the Kirazlı, Ağı Dağı and Çamyurt projects located in northwestern Türkiye, to Tümad Madencilik Sanayi ve Ticaret A.Ş (“Tümad”), a mining company operating in the Republic of Türkiye, for total cash consideration of
$160 million payable upon closing of the Transaction;$160 million payable on the one-year anniversary of the closing of the Transaction (“Second Installment”); and$150 million payable on the two-year anniversary of the closing of the Transaction (“Third Installment”).
Each of the Second and Third Installment payments is secured by a bank guarantee provided by international financial institutions with investment grade ratings, ensuring total guaranteed proceeds to Alamos of
“This transaction marks a positive outcome, allowing us to crystalize significant value for our Turkish assets, and utilize the proceeds to support the development of our portfolio of other high-return growth projects. These projects are all located in North America, they are all lower cost, and they underpin one of the strongest growth profiles in our sector,” said John A. McCluskey, President and Chief Executive Officer of Alamos.
In addition to supporting the development of its pipeline of growth projects, including the Phase 3+ Expansion within the Island Gold District, the Lynn Lake Project, and the Puerto Del Aire project in Mexico, Alamos expects to use the proceeds from the Transaction to reduce existing debt obligations.
The Transaction is expected to close in the fourth quarter of 2025 and is subject to customary closing conditions for a transaction of this nature, and receipt of regulatory approval in Türkiye.
In conjunction with the Transaction, the Netherlands Subsidiaries and the Republic of Türkiye have agreed that arbitration proceedings brought by the Netherlands Subsidiaries against the Republic of Türkiye under the Netherlands-Türkiye Bilateral Investment Treaty shall remain suspended, and will be discontinued with prejudice after certain contractual milestones are reached. The arbitration proceedings remain confidential, and therefore at this stage it is not possible to disclose further details concerning those proceedings.
About Alamos
Alamos is a Canadian-based intermediate gold producer with diversified production from three operations in North America. This includes the Island Gold District and Young-Davidson mine in northern Ontario, Canada, and the Mulatos District in Sonora State, Mexico. Additionally, the Company has a strong portfolio of growth projects, including the Phase 3+ Expansion at Island Gold, and the Lynn Lake project in Manitoba, Canada. Alamos employs more than 2,400 people and is committed to the highest standards of sustainable development. The Company’s shares are traded on the TSX and NYSE under the symbol “AGI”.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Scott K. Parsons
Senior Vice President, Corporate Development & Investor Relations
(416) 368-9932 x 5439
Khalid Elhaj
Vice President, Business Development & Investor Relations
(416) 368-9932 x 5427
ir@alamosgold.com
The TSX and NYSE have not reviewed and do not accept responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements
Certain of the statements made and information contained herein, other than statements of historical fact and historical information, is “forward-looking information” within the meaning of applicable Canadian and U.S. securities laws. Forward-looking statements are generally, but not always, identified by the use of forward-looking terminology such as “will”, “may”, “expect” or variations of such words that certain actions, events or results “could” “might” or “will” occur or be achieved.
Forward-looking statements in this press release include information pertaining to the Transaction, the consideration payable for the Transaction, timing of payments, and closing of the Transaction; intended use of the proceeds from the Transaction; the suspension and potential discontinuance of the Dutch Subsidiaries’ Bilateral Investment Treaty claim against the Republic of Türkiye; the strength of the Company’s growth profile; the Phase 3+ Expansion; the Lynn Lake Project; the Puerto Del Aire project and any other general information that expresses expectations as to strategy, plans or future financial or operating performance. Alamos cautions that forward-looking statements are necessarily based upon several factors and assumptions that, while considered reasonable by the Company at the time of making such statements, are inherently subject to significant business, economic, legal, political and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements or information.
Risk factors that may affect the Company’s ability to achieve the expectations set forth in the forward-looking statements in this press release include, without limitation: not receiving requisite approvals required for completion of the Transaction, either party to the Transaction not meeting requisite closing conditions and the non-closing of the Transaction; default on either or both of the Second Installment or Third Installment; delays in or with the Phase 3+ Expansion at Island Gold, construction and development of the Lynn Lake Project, and/or the Puerto Del Aire project; and changes to the method of accessing the deposit at the Puerto Del Aire project. Additional risk factors are set out in the Company’s latest 40F/Annual Information Form and Management’s Discussion and Analysis, each under the heading “Risk Factors” available on the SEDAR+ website at www.sedarplus.ca or on EDGAR at www.sec.gov, and should be reviewed in conjunction with the information, risk factors and assumptions found in this press release. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
FAQ
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