Call for Update on Türkiye's Gold Potential
Stating that past estimates need to be reconsidered with the rise in gold ounce prices, experts drew attention to annual production capacity.
Mehmet Yılmaz, President of the Turkish Miners Association, emphasized that the gold potential estimates determined in the 1990s need to be updated as the price of an ounce of gold reaches $4,000.
Need for New Calculation in Gold Potential
Mehmet Yılmaz, President of the Turkish Miners Association, made important evaluations regarding Türkiye's gold reserves and potential in statements he made in Rize.
Past Estimates and the Impact of the Ounce Price
Yılmaz reminded that a gold potential of around 6,500 tons was estimated with modeling based on geological data in the 1990s, but this amount is not a reserve. He stated that with the ounce price of gold rising to $4,000, materials that were not considered economical in the past have now gained ore status.
Production Capacity and Annual Targets
Stating that approximately 1,500 tons of this potential has been produced, Yılmaz noted that Türkiye has the capacity to produce 50 tons of gold per year with the deposits in the hands of license holders. He shared the information that production in 2025 amounted to 28 tons.
Registered Transactions and Foreign Trade Relationship
Pointing out that exchange rates and gold prices move together in Türkiye due to the foreign trade deficit, Yılmaz advised citizens to make invoiced and registered transactions when purchasing gold.