Copper Facts
Electrical uses of copper, including power transmission and generation, building wiring, telecommunication, and electrical and electronic products, account for about three quarters of total copper use. Building construction is the single largest market, followed by electronics and electronic products, transportation, industrial machinery, and consumer and general products. Copper byproducts from manufacturing and obsolete copper products are readily recycled and contribute significantly to copper supply.
289 Sk. No:2 Zemin 7 Körfez İşhanı,
BORNOVA - İZMİR
Gryphon’s mission is to create shareholder value by exploring and extracting base metals in Turkey and other regions. Gryphon Resources Inc. was incorporated in Nevada in 2006 and expanded in 2008 through the creation of our Turkish subsidiary APM Madencilik Ltd. (“APM”). APM’s activities have centered on the exploration of its H33D4 site which is located 180 km due East from Turkey’s capital Ankara and covers an area of 1375 sq.km.
Discovery of Manganese
Our belief in the potential of H33D4 was validated in February 2009 when a significant deposit of manganese was discovered at the site. Initial indications are this deposit may yield up to 10 million tons of manganese ore at a grade of 42-54% and have a life of up to 80 years. APM is currently developing the capital, infrastructure and labor resources needed to start manganese production and concurrently will continue to explore for copper at the site.
Cash Flow Potential
In March 2009, APM signed its first contract for delivery of Manganese ore. This contract is based on delivery of 1,000 tons of manganese per month to a Turkish trading company which supplies minerals to China. Additionally, APM has announced it’s in negotiations with other buyers and expects to increase contracted sales of manganese to approximately 16,000 tons during Spring 2009.
SENIOR MANAGEMENT:
Serdar Kirmizioglu
CEO Serdar Kirmizioglu has extensive experience in mining operations management and engineering. He has held a series of progressively senior positions in a variety of mining and construction firms in Turkey. From 2000 to 2003 he held the position of Raw Material Manager and subsequently Quality Control Manager of Bleaching Refined Oil Processing with Bensan Activated Bentonit Industry Co. From 2004 to 2006 he was the Project and R&D Manager and subsequently Quarry Enterprise, Production Manager for Bemas Concrete Manufacturing and Construction Materials Co. During 2006, Mr. Kirmizioglu was the Technical Manager for Asos Marble Co. and in 2007 held the position of Assistant Chairman of the Board of Directors for Kirser Mining and Construction Co. Mr. Kirmizioglu joined Gryphon Resources, Inc. as President & CEO in 2008.
Mr. Kirmizioglu is a member of the Turkish Chamber of Mining Engineers and received his degree as Bachelor of Mining Engineering from Cukurova University in 1998.
Copper is one of the oldest metals and has been one of the important materials in the development of civilization. Because of its properties of high ductility, malleability, and thermal and electrical conductivity, and its resistance to corrosion, copper has become a major industrial metal, ranking third after iron and aluminum in terms of quantities consumed.
North American Copper Consumption
source: World Bureau of Metal Statistics