UniCredit Bank and the European Bank for Reconstruction and Development extended Öksüt Madencilik’s $150 million credit facility from November 30, 2016 to June 30, 2017 to satisfy various conditions involved with the project. Öksüt is the Turkish subsidiary of Canadian-based Centerra Gold.

The credit facility will be used to finance a substantial portion of the construction, development and operation of the company’s Öksüt gold mine and its related infrastructure in the Kayseri region of central Turkey.

Centerra is gold mining company focused on operating, developing, exploring and acquiring gold properties in North America, Asia and other markets worldwide.