Gold Production Started at Ağrı Mollakara Mine

Implemented by Turkish Gold Enterprises within the Turkey Wealth Fund in the Diyadin district of Ağrı, the Mollakara Gold Mine has started production with an investment of $250 million.

Investment and Production Targets

Turkish Gold Enterprises, operating under the Turkey Wealth Fund, has put the Mollakara Gold Mine in the Diyadin district of Ağrı into operation with an investment of $250 million.

The established facility is expected to single-handedly contribute 10 percent to Turkey's domestic gold production, which averages around 30 tons annually.

Economic Contribution and Imports

Aimed at reducing Turkey's foreign dependency in this area—as the country imports more than 150 tons of gold per year—the facility is targeted to provide $2.5 billion in direct support to the economy and the current account balance with the 17 tons of gold it will produce over a 5-year period.

Production in Mollakara is projected to be around 1 ton this year.

Opening Process and Timeline

Vice President Cevdet Yılmaz stated in his speech at the opening ceremony that the production stage has been reached after approximately 18 years of exploration, survey, feasibility, and engineering studies.

The facility started open-pit production as of June 16 and carried out its first gold pouring on July 16.

Employment Figures

A total of 265 people are currently employed at the Mollakara Gold Mine enterprise.

It has been reported that this employment figure will rise to 337 people when the facility reaches full capacity production.