As TÜMAD, we continue to carry out our activities at the highest standards with social, environmental and managerial values at every stage of the life cycle, shaped within the framework of our commitments in line with corporate values. In this regard, by continuing our activities at the highest standards, we create a significant economic and social impact in the Gold and Silver Mines in İvrindi and Lapseki.

We play an important role in reducing foreign dependency as well as closing the current account deficit by creating added value and employment through the activities carried out in İvrindi and Lapseki Gold and Silver Mines. As of 2023, after the commissioning of both enterprises, 981 thousand ounces of gold and 1.5 million ounces of silver metal have been produced and brought to the country's economy.

TÜMAD Mining, which processes our country's underground riches and brings them into the country's economy with the focus of creating sustainable values for our employees, stakeholders and local communities today and in the future, has businesses that are considered among the best examples of the world in the sector in terms of design parameters, monitoring methods, pollution prevention and control and resource efficiency. In the regions where mining activities are carried out, economic and social activities are carried out by protecting the environment, based on mutual trust, respecting values, with open and transparent communication, with the aim of ensuring the support of the local people for their activities, with social approval, complaints and feedback, stakeholder participation, local purchasing-local employment understanding and management. Ensures development. More than 2,000 employees are employed in both businesses, including subcontractors, 70% of whom are local. By conducting advanced exploration in potential mining areas at home and abroad, it has accelerated its efforts to bring large-scale mining projects into production, where it is economically possible to work.

TÜMAD ensures the implementation and continuous improvement of the highest levels of environmental, occupational health and safety and community relations available in the world in all processes from searches to rehabilitation. With the İvrindi and Lapseki mining enterprises, whose feasibility studies were prepared in accordance with NI-43-101 Canadian standards, it added a new one to its management system certificates by being entitled to receive the ISO 50001 Energy Management System certificate in 2023. TÜMAD, which is a leading company in terms of both environmental awareness and sustainability with its International Cyanide Code, ISO27001, 9001, 14001, 45001, 50001 certificates in Turkey, is now a pioneer in social responsibility and protection of employees' social rights by adding the SA8000 standard to these documents. showed that it is. The SA8000 certificate shows compliance with world standards on issues such as forced and compulsory labor, child labor, occupational health, occupational safety, freedom of association, collective bargaining, discrimination, disciplinary practices, working hours, wages and management systems. In addition, continuous improvement is pursued by fully fulfilling the Integrated Management Systems components and the sustainability principles determined by the European Bank for Reconstruction and Development, especially the United Nations Equator principles.

Along with reserve expansion activities simultaneous with production, TÜMAD Exploration Group teams continue to work to implement large-scale mining projects that will be economically possible to operate with exploration activities in other fields at home and abroad. The ministry has approved the positive EIA decision for the Lapseki Şahinli site. Within the scope of this project, new interested parties were identified and a Social Impact Assessment was conducted to determine their needs and expectations. In this study, the current demographic structure, livelihoods, literacy, cultural structure, concerns about the project were determined, and education, health and infrastructure requirements were revealed.

TÜMAD, which contributes significantly to social development with its infrastructure, economy, health and education investments, İvrindi "Nurettin Çarmıklı Mining Vocational and Technical Anatolian High School", which was established to provide qualified intermediate staff to the mining sector, and Erol Çarmıklı Anatolian High School, which was opened to support education in Çanakkale, The Lapseki Kindergarten project, which will be built, has been added to the Havran Science and Technology Center projects, which will attract the attention of all children and young people to science and technology, present scientific subjects in an easily understandable and entertaining way, and contribute to the training of future scientists.

In the studies carried out by placing women and young people at the center of social development, opportunities were provided especially for vocational training and on-the-job training, and social added value was provided by creating employment areas suitable for the skills acquired. In the light of the basic data obtained in the Social Impact Assessment studies, Livelihood Improvement Plans and projects that will contribute to the economic and social development of the local people, such as "“Çilek Kokulu Tarlalar (Strawberry Scented Fields)", "Fidanlar Ağaç Olsun (Let the Saplings Become Trees)", "Mushroom Cultivation (Mantar Yetiştiriciliği)", "Cone Dyeing (Kozalak Boyama)", " A new one was added to the "Telkari (Filigree)", " İş Gömleği Dikim (Work Shirt Sewing)", " Bilgisayar Okur-Yazarlığı (Computer Literacy)", " Yem Bitkisi Yetiştiriciliği (Forage Plant Cultivation) " Programs and the " Kraliçe Arılar (Queen Bees)" project was also implemented.

Within the scope of Gender Equality Awareness studies, the trainings we started to establish a gender equality perspective within the company continue for the employees employed by TÜMAD at all levels.

Our most basic approach in the environmental sense is to protect the environment in the best possible way with the permits and licenses we have obtained in accordance with national and international standards in the operations we carry out, to observe and protect the pre-operational conditions through monitoring and control studies carried out during the activities, and to keep the footprints of our activities at a minimum level. Preventing and controlling pollution with the integration of the Environmental Management System, minimizing the consumption of natural resources and using them optimally, minimizing waste generation and increasing the recovery rate by separating the resulting waste at its source, recycling water in our operations working with the principle of zero discharge and collecting and recycling the rainwater falling on the field. We continue our work with the aim of minimizing the water footprint by using. Along with the Energy Management System certification, we implement saving measures for efficient use of energy, and a Wind Turbine project has been developed to meet the installed power energy needs of our businesses in order to ensure energy efficiency, use renewable energy resources and save existing resources in line with our long-term goals. Within the scope of this project, it is planned to provide the required energy from renewable energy sources with the turbines and transformer center to be installed instead of the electrical energy supplied from the grid, and to prevent foreign dependency in energy, which is a new breakthrough in the mining sector, by reducing greenhouse gas emissions.

We have designed 6 5.5 MWm/5.5 mWe turbines for our Lapseki Plant and the total capacity will be 33.6 mWm/mWe. A total of 6 turbines will be used within the scope of the project and the total installed power is planned to be 33,400 kWe (16,700 kWe + 16,700 kWe). It is anticipated that it will have an electrical energy production capacity of approximately 110,630,000 kWh/year. 7 turbines of 4.26 MWm/4.26 mWe turbines have been designed for our İvrindi Plant and the total capacity will be 33.6 mWm/mWe. Within the scope of the project, 7 turbines will be used and the total installed power is planned to be 33,600 kWe. It is anticipated that it will have an electrical energy production capacity of approximately 121,030,000 kWh/year.

Considering the 2022 energy use and greenhouse gas emissions of the İvrindi Facility, it is predicted that if it is met by wind turbines, the annual greenhouse gas formation of 57,781.0616 tCO2e will be prevented and a positive impact will be achieved on scope 2 emissions.

Considering that the average price paid per kWh in 2023 is 2.55 ₺, it is estimated that 21.2 M$ annual savings will be achieved with the annual energy production from wind turbines. With these steps, TÜMAD aims to increase energy independence while reducing its environmental impact and increasing economic efficiency.

Lapseki Operation

Lapseki Gold and Silver Mine started production in 2017, which carries out all its activities in accordance with the International Cyanide Code and is the world's best example in the sector in terms of design parameters, monitoring methods, pollution prevention and control and resource efficiency, are still operational and where five basic operations, drilling, blasting, excavation-loading, transportation and unloading of ore, are carried out in Kestanelik, Karakovan, S, SBX open pits and underground pits.

In 2023, a total of 908 thousand tons of ore and 5.5 million tons of waste were produced from the mines where production was carried out, and 260 thousand tons of high grade gold silver ore was produced from 6 active production floors in the underground mine.

Approximately 1.2 Mt of high-grade ore produced from open and underground mines was processed with 96% efficiency in the enrichment facility where the Tank Leaching method was applied, producing a total of 127 thousand ounces of gold and 83 thousand ounces of silver. From the day the Lapseki Site was put into operation until the end of 2023, a total of 544 thousand ounces of gold and 352 thousand ounces of silver were produced and brought to the country's economy.

İvrindi Operation

In the İvrindi Gold and Silver Mine, which started production in the third quarter of 2019, operation continues adn implements open pit mining method with five basic processes; drilling, blasting, excavation-loading, transportation and unloading of ore in Kartaldere and Ballık pits.

Approximately 6.8 million tons of ore was produced in 2023 and, approximately 7.7 million tons of ore was processed in the facility with a capacity of 1200 tons/hour and laid on the heap leach area. 101 thousand ounces of gold and 197 thousand ounces of silver were produced in the enrichment facility.

From the day the İvrindi Site was put into operation until the end of 2023, a total of 437 thousand ounces of gold and 1.2 million ounces of silver metal were produced and brought into the economy.

(1)The figures have been calculated from the consolidated financial statements in accordance with International Financial Reporting Standards (IFRS).

(2)The functional currency of "TÜMAD Madencilik" is the US dollar.

(3)Lapseki gold production project started its operations in 2018 and İvrindi gold production project started its operations in the second half of 2019.

TÜMAD Total Number of Employees: 980