Year-end target for gold production is 45 tons

Gold Miners Association President Hasan Yücel, in his statement to the AA correspondent, stated that Turkey has a potential of 6,500 tons in gold mines and approximately 1,500 tons of this has been converted into reserves.

Stating that there were several gold production facilities whose investment processes were completed and started operating at the beginning of the year, Yücel noted that the private sector in mineral exploration should be encouraged in order to increase this number.

Pointing out that gold imports have a significant share in the increase in the current account deficit, Yücel stated that Turkey’s gold imports have reached 130-140 tons annually on average in the last 20 years.

Yücel stated that last year the record in the history of the Republic was broken in gold production with 38 tons and said, “This year, we predict that this record will be revised with 45 tons. With state-supported planning and strategy, we will increase the annual gold production to 60 tons in 5 years and 160 tons of gold imported annually in 15 years.” “We have the ability and capacity to produce. Considering that the price of 160 tons of gold is 9 billion dollars, we have only produced approximately 1.9 billion dollars of this. Turkey can close this gap with serious support, planning and strategy.”

Private sector investment in gold is 7.5 billion dollars

Yücel said that in the new mining law planned to be issued this year, exploration and production permits, business processes, use of public resources and permits in sensitive areas should be evaluated within a total planning.

Stating that the government is willing to make innovations towards transparency in the legislation, Yücel said, “Legislation is important, but sometimes the will is not reflected through legislation. The most important thing is to produce in the country, without relying on outside sources. If we produce in our country and provide added value here, this is success for us. Since 2000, when our gold production was zero, “We have come to this day and now we are the largest gold producer in Europe.” he said

Yücel stated that the Minister of Energy and Natural Resources, Fatih Dönmez, also gave serious support to gold production, and said, “However, this is not an issue that can only be progressed with private sector efforts or directives of the ministry. The exploration investment of 1.5 billion dollars by the private sector is close to 6 billion dollars.” facility investment was made.” he said.

“Environmental sensitivity in gold mining is at a high level”

Yücel emphasized that high level of importance is given to environmental sensitivity in gold mining in Turkey.

Yücel stated that there are gold mining sites in Turkey that are above world standards in terms of technology, adaptation to nature and rehabilitation projects, and said:

“Necessary precautions are being taken in these fields and the fields are open to unlimited inspection. With the emergence of production potential in Turkey, the issue of gold exploration has been discussed a lot. This issue has many international, political and economic dimensions. Unfortunately, false information is also conveyed to our people. Turkey is a rich place “The fact that it has six resources and the capacity to utilize these resources brings with it various manipulations. Political parties, NGOs, institutions can be used as tools for the issue. We must minimize our own mistakes by self-criticizing ourselves.”

Source: https://www.aa.com.tr/tr/ekonomi/altin-uretiminde-yil-sonu-hedefi-45-ton/1715111

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