Turkey-based gold exploration and development company Ariana Resources’ profit after tax grew threefold in the year ended December 31, 2019, to £6.9-million, compared with the £2.2-million reported for 2018.
The miner attributes the increase primarily to the “excellent operational performance” of its joint venture investment in Zenit, whose turnover grew by 21% year-on-year, reflecting the favourable movement in the gold price and increased production.