Gold

Gold is a chemical element in soft and bright yellow color, represented by the symbol Au (from Latin Aurum (shining-shining)) in chemistry. With its bright yellow color, gold is one of the precious mines that has attracted the attention of people since the first ages because it has the characteristics of being enchanting people, not being affected by abrasive external conditions due to its durability, being found free in nature and easy processing, and protecting its commercial value and identity in every period. Unlike other precious metals, this precious metal, which has many features of its own, has been used for thousands of years as a means of savings, ornaments, gifts and commercial exchange. The limitation in nature, the fact that its supply could not be increased suddenly in the rate of price increases and the fact that an alternative mineral could not be found yet reveals how precious gold is.

 

 

Our country can be seen as a country rich in gold mine. Turkey constitutes the world's land surface area of ​​0.5% and 1.0% of the world's population. Turkey's share in world mineral reserves, according to the ratio greater than one selected from the rich countries, it means less than poor. With this approach, we can qualify as important mines for our country, where we have more than 0.5% share in the world reserves (our country has about 2% of gold resources). Because gold production in our country does not meet the consumption, Turkey is one of the world's most important importer of gold. In the last 20 years an average of 156 tons / year of gold near our imports reached 324 tonnes in 2018 to carry up the gold imports in Turkey. For this reason, as a result of the National Energy and Mining Policy applied in recent years to evaluate the potential of mining in the country, it has started to generate significant foreign exchange savings and employment while increasing the revenues from business based trade.

 

Gold production in our country first started officially in Izmir-Bergama in the Ovacik gold mine in 2001. The production of gold, which was 1.4 tons / year at the beginning, and the production of gold mines with the new operation increased to 38 tons / year in 2019. Following the increase in gold market prices, our country's production potential is thought to be 50 tons / year.

 

 

Domestic and foreign investors spent approximately $ 2.5 billion on exploration and facility investments in gold projects realized in our country to date. While these investments directly employ 6,200 people, it can be said that mining provides indirect employment to approximately 25,000 people when the industry multiplier effect is considered 4. While gold prices in the world market were around $ 270 / ounce in the 2000s, today they reach $ 1550 / ounce. This shows that gold mining is in an important position in our country's economy.

 

 

Gold production in our country by years; (tons / year)

 

The details presented here have been prepared with the aim of informing the users of the website of our Ministry, and do not possess the characteristics of official binding documents.