Minister: Turkey Discovers 20-Ton Gold Reserves Worth $1.2bn

Date: 11 June 2021 - 21:53

News ID: ۹۱۱۴۵

ANKARA (Hurriyetdailynews) - A massive 20-ton gold reserve worth $1.2 billion has been discovered in Turkey’s eastern province of Agri, the Turkish industry and technology minister announced.
In addition, a 3.5-ton silver reserve, worth $2.8 million, was also discovered in the same region, Mustafa Varank said at a groundbreaking ceremony for Turkish gold mining firm Koza Altin’s new facility in Ağrı.
The $160 million facility, which will employ 500 people directly and indirectly and provide 2,000 jobs, has huge importance for the economy of both Turkey and the region, said Varank.
The facility is expected to start gold casting in the last quarter of 2022, he added.
He said surveying and exploration are continuing to find much more gold in the mine.
Touching on Turkey’s mining sector, he said 13,000 people are working in the sector, with investments reaching $6 billion to date.
“Turkey, which in the early 2000s was unable to produce even one gram of gold, last year produced 42 tons of gold in 18 active mines despite the pandemic,” Varank said, highlighting mining accomplishments under the AKP, which came to power in 2001.