The Globe and Mail reports in its Tuesday edition that Alamos Gold is selling its Turkish subsidiary for $470-million to a Middle Eastern mining company, ending a $1-billion legal battle (all figures U.S.). A Reuters dispatch to The Globe says Alamos will sell the Turkish unit to Tumad Madencilik Sanayi, a mining company operated by conglomerate Nurol Holding. As part of the deal, Alamos said arbitration proceedings that its Netherlands units filed in 2021 against Turkey will remain suspended, and shall be discontinued after contractual milestones are reached. Alamos has had an active presence in Turkey since 2010. In 2019, the miner had halted construction work at its Kirazli project in western Turkey after the mining concessions expired and amid protests against the project. This led to the company filing a $1-billion claim against Turkey for "unfair and inequitable treatment" on the project. The deal is expected to close in the fourth quarter of 2025, Alamos said, adding that it will use the funds it receives to reduce existing debt obligations and support the projects it is developing. Alamos closed Monday at $46.04, up 41 cents on the Toronto Stock Exchange.