04:07 AM EDT, 09/15/2025 (MT Newswires) -- Alamos Gold ( AGI ) said Sunday its Netherlands subsidiaries have agreed to sell their Dogu Biga Madencilik unit in Turkey to mining company Tumad Madencilik for $470 million in cash.

Dogu Biga Madencilik owns the Kirazli, Agi Dagi and Camyurt projects located in Turkey's northwest region, the company said.

Under the terms of the deal, Alamos will receive $160 million payable upon closing, $160 million payable on the one-year anniversary of the closing, and $150 million on the two-year anniversary of the closing.

The deal is expected to close in Q4, pending Turkish regulatory approvals.

Alamos President and Chief Executive John A. McCluskey said the deal allows the company to "crystalize significant value for our Turkish assets, and utilize the proceeds to support the development of our portfolio of other high-return growth projects" in North America.