Over the last two decades or so, Turkey has experienced a gold rush of sorts. Much of this rush has been fueled by two things. First, the country has massive gold deposits that are yet to be exploited. Secondly, due to government policy and a host of other factors, extracting gold in Turkey is significantly cheaper compared to many countries in the developed world.
Additionally, Turkey has taken a more liberal approach in tapping its enormous mineral wealth. In essence, the government has taken a back seat and is inviting private investors to enter the country’s extractions sector. But of course, there are certain risks including political turbulence. Nonetheless, Turkey is looking poised to become one of the biggest exporters of gold in Europe.
Turkish Mining History
Turkey has a rich mining history. According to current estimates, metal mining in Turkey goes back nearly 8000 years. It is believed that ancient civilizations that occupied modern-day Turkey including the Ottomans and the Romans were massively involved in the extraction of metals.
Archeological evidence suggests that the first-ever bronze alloy was created in the country. Despite this, this European country is vast. Even though ancient civilization did their best to explore as many mines as they could, much of Turkish mineral wealth remains untapped today. But through public-private collaborations, things are starting to change.
Gold Prospects in Turkey
Turkey, even though it’s not among the top ten gold producers in the world, still has a lot of gold reserves. While Gold mining in the country kicked off in 3000 B.C., we are far from the peak extraction levels.
Right now, the European Union accounts for just 1% of the total global gold output. This is significantly less. Although Russia has led the way as one of the leading gold producing countries in Europe, there is real hope that Turkey could start to catch up.
Main Gold Mines in Turkey
Today, there are five major gold mines in Turkey that account for much of its total gold output.
Kişladağ Mine
The Kişladağ mine is considered the largest gold mine in Turkey. The mine is operated by the Canadian mining company Eldorado Gold. It is located in the province of Usak in Western Turkey. According to forecasts by Eldorado Gold, the mine is expected to produce roughly between 240,000 and 260,000 ounces of gold.
The company also estimates that it costs between $450 and $550 to produce a single ounce of gold there. The efficiency of the mine is also not that high with a yield of 1 gram of gold per ton of ore. The estimated life expectancy of the mine is 15 years.
Çöpler Mine
The Çöpler mine is also one of the largest gold mines in the country. The mine is operated by the Alcer Gold Corporation and is located in the province of Erzincan. Current estimates show that total gold deposits in the mine could top nearly 6 million ounces. The mine is expected to remain operational until 2037.
Also Read: 9 African Countries with the Richest Gold Mines
Çukuralan Mine
The Çukuralan mine is currently the oldest in turkey. Located in the Izmir province in western Turkey, the mine is operated by Koza Ipek Holding, a Turkish conglomerate with interests in several sectors. The mine features an open pit construction and has been operational since 2010.
Mastra Mine
The Mastra mine is the second oldest in turkey. The mine is located east of the country in the Gümüşhane Province. It is also operated by Koza Ipek Holding. The annual production output is still not clear. But it is estimated the mine produces upwards of 170, 000 ounces of gold each year.
Gold Mining Project at Mount Ida Region
The Gold mining project at Mount Ida region is probably the most controversial mining undertakings in Turkey. Proposed mining activities are expected to take place in the town of Çanakkale, located in Western Turkey.
However, the project covers a lot of land around the Mount Ida region. As a result, it has faced opposition from environmental activists. Mount Ida is a designated national park even though it has large mineral deposits. Environmental activists believe that mining activities could have adverse effects on biodiversity in the region. The Ida Mountains are also home to the largest continuous forest in the country.
Nonetheless, the Turkish government is moving forward with the project. The Canadian mining company Alamos Gold has already been awarded mining rights worth $90 million.
Despite this, there have been reports in Turkish media that the government may have misled the public on the extent of tree clearing needed to make the gold mines operational. The project has therefore been marred by protests and picketing in recent months, especially from local community leaders and environmentalists.