Alacer completes Turkish Lira hedging contracts; eyes Çöpler capex saving

Turkey-focused miner Alacer Gold has completed foreign currency forward sales contracts to limit its exposure to the volatility of the Turkish Lira (TRY), the company announced on Friday. Alacer, which operates and owns an 80%-stake in the country’s Çöpler mine, said the hedging programme covers about 40% of the remaining sulphide expansion project capital expenditures and consigned it able to potentially reduce the overall capital cost of the $744-million project.