ACG Metals targets mid-year copper production start

Artem Volynets: In this time of geopolitical uncertainty, it’s good to go back to basics. We believe low-cost producers of key metals such as copper and gold will benefit when market volatility settles and the focus returns to quality stories that benefit from the commodity price environment.

We have seen increases in gold and copper prices. We are very proud that we continue to progress on our sulfide project expansion, where we plan to achieve production by the middle of the year. Only a few months remain before commissioning starts. I thought it would be good to speak with Yaya, our chief metallurgist, about how he is preparing to start the sulfide plant and commission it.

Proactive: Yaya, tell me about your background.

Yaya Hamadou: I bring more than 25 years of international experience in flotation concentrator operations across copper, zinc, lead, molybdenum, gold and silver processing. I have worked across Canada, the United States, Australia and West Africa.

I held senior processing leadership roles with Glencore, Imperial Metals and Core Mining, where I led commissioning, start-up and ramp-up of several multi-commodity flotation plants and delivered sustainable operational performance.

I also worked on optimising tier-one assets operated by companies such as Teck, Newmont, Hudbay Minerals and Centra, improving throughput, metallurgical recovery and operational stability. That experience provides the foundation for the successful start-up and ramp-up of the ACG sulfide project.

Proactive: You have done a lot of work since joining the company to improve efficiencies and reduce bottlenecks to get the process flowing.

Yaya Hamadou: The main work now is preparing for the sulfide process plant. The project remains on schedule and on budget with commissioning planned for the second quarter. We target commercial production at about 70% of nameplate capacity by mid-year, followed by a structured ramp-up to full operating capacity. In parallel, we are completing the final phase of operational readiness. That includes strengthening plant leadership, operator training, optimising blending and metallurgical performance, and implementing disciplined operating procedures and a robust metal accounting system. This preparation positions the operation for safe commissioning and a controlled ramp-up to steady-state production.

Proactive: Artem, it must be valuable having someone with Yaya’s experience on the technical team.

Artem Volynets: Yes. When Yaya joined us in the spring of last year, within about three months he significantly increased recoveries from our oxide operation, which continues to produce. He has also prepared the team for commissioning of the sulfide project. The key for us is building a team with the experience required to commission the project on time and on budget. Among the projects Yaya has worked on previously, this is probably the smallest and simplest operation, but we still plan to start commissioning in the second quarter and reach full commercial production by mid-year.

Our guidance for 2026 is 20,000 to 22,000 tonnes of copper equivalent, including about 14,000 ounces of gold equivalent produced in the first half of the year. Thanks to Yaya, we are very much on track to reach our goals. Before pursuing any M&A strategy, we want the market to fully appreciate the value of the asset in Turkey, which is a high-grade copper-led polymetallic deposit with a 2.3% copper equivalent grade.

Proactive: It sounds like the next six months will be very busy with plenty of news flow. Gentlemen, great to see you both.