Mehmet Yılmaz, President of the Turkish Miners Association, highlighted that a modelling study suggests Turkey has a potential gold reserve of 6,500 tons. "We know the locations of 1,500 tons and have already started production. The remaining 5,000 tons are still underground," Yılmaz stated, noting that the market value of this gold is approximately $300 billion.
INITIAL PRODUCTION TARGET: 50 TONS
During a press briefing, Yılmaz mentioned that Turkey's annual gold mining capacity was 35 tons, while the country imported around 160-170 tons. He said, "If we produce domestically, the advantage is clear given the pronounced inflationary impact.” Discussing the sector's production goals, he emphasized the target to first achieve 50 tons and later 100 tons of annual gold production. In 2023, Turkey imported $31 billion worth of gold and exported $12 billion, resulting in a trade deficit of $19 billion. Yılmaz also stated that Turkey's total underground wealth, including nickel, thorium, boron, coal, and trona, was valued at $3.5 trillion.
ILIÇ INCIDENT: THE TRUTH MUST COME OUT
Addressing industry issues, Yılmaz said, "People first, then the environment. If you don't prioritize this, the work loses meaning, and if others in the industry don't follow suit, it also affects your credibility. For example, I don't know exactly what happened there, the unfortunate accident in Iliç (Erzincan) incident. I visited the site a day after the incident; it was my first visit. There is a parliamentary research commission investigating it, and I hope they reveal the truth."
ESTABLISHING MINING PRINCIPLES
Yılmaz stressed the need for clear regulatory standards: "The sector must establish an independent auditing mechanism for self-regulation. For instance, the Canadian Miners Association has published 'Sustainable Mining Principles,' setting standards accordingly." Yılmaz noted that mines adhering to these standards received an Internal Audit Certificate. He went on to say, “Implementing these principles is a goal. Most importantly, those who go to the mine in the morning return home safely in the evening."
