Turkey’s Erdemir receives government subsidy for mining investment

Turkey's largest steelmaking group Eregli Demir ve Celik Fabrikalari TAS (Erdemir) has announced that its mining subsidiary Erdemir Madencilik Sanayi ve Ticaret AS received a government subsidy on May 31 for the investment in an iron ore dressing and pelletizing plant in Hasancelebi, Malatya in eastern Turkey. The steelmaker is planning to build an iron ore dressing and pelletizing plant with an annual capacity of 3 million mt.
 
Erdemir stated that the investment subject to the government subsidy is worth TRY 1,569,000,000 ($827.7 million), including imported machinery and equipment, domestic machinery and equipment, construction and other expenses.
 
The steelmaker also indicated that the mining investment has been classified as a strategic investment by the decision dated February 8, 2013 of Turkey's Strategic Investments Review Board.