Global Atomic’s Turkish Operation Unaffected by Earthquake
Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, FRANKFURT: G12, OTCQX: GLATF) today reports that the earthquake that occurred near the city of Izmir on Turkey’s west coast on Friday, October 27, 2020, had not impacted the Company’s zinc recycling joint-venture operation in Iskenderun, located approximately 1,000 kilometres east of Izmir.
President and CEO, Stephen Roman, commented, “On behalf of our Board of Directors and business partners, Global Atomic sends our sincere condolences to Turkey, the victims of the earthquake and their families. We are thankful that those working at or living near our operation in Iskenderun were unharmed by this event.”
About Global Atomic
Global Atomic Corporation (www.globalatomiccorp.com) is a publicly listed company that provides a unique combination of high-grade uranium mine development and cash-flowing zinc concentrate production.
The Company’s Uranium Division includes four deposits with the flagship project being the large, high-grade Dasa Project, discovered in 2010 by Global Atomic geologists through grassroots field exploration. The Company is moving the Dasa Project ahead rapidly, having recently completed the key milestone of submitting the mining permit application to the Niger government.
Global Atomics’ Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. (“BST”) Joint Venture, which operates a new, state of the art processing facility, located in Iskenderun, Turkey. The plant recovers zinc from Electric Arc Furnace Dust (“EAFD”) to produce a high-grade zinc oxide concentrate which is sold to zinc smelters around the world. The Company’s joint venture partner, Befesa Zinc S.A.U. (“Befesa”) listed on the Frankfurt exchange under ‘BFSA’, holds a 51% interest in and is the operator of the BST Joint Venture. Befesa is a market leader in EAFD recycling, with approximately 50% of the European EAFD market and facilities located throughout Europe and Asia.