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Giant gold reserve moves are gaining momentum: Turkey will mine gold in many provinces

Turkey draws attention with its recent gold reserve moves alongside natural gas discoveries. After the gold news from Agri, SDIF President Muhiddin Gulal stated that new good news could come and said, “We have drillings in Kutahya, Canakkale, Sogut, the Black Sea and this region. We are getting positive results from these as well. We hope to appear before our people with new good news after these are reported.” In addition, GUBRETAS Maden Yatirimlari Inc. Chairman of the Board Fahrettin Poy announced that they aim to pour the first gold at the end of 2022 in the mining quarry in Bilecik’s Sogut district. On the other hand, the countries with the most gold reserves in the world have been announced.

20 TONS OF GOLD AND 3.5 TONS OF SILVER FOUND IN AGRI

Speaking to reporters in Agri, Gulal reminded that Koza Gold Enterprises had identified 20 tons of gold with a market value of $1.2 billion and 3.5 tons of silver with a market value of $2.8 million in Agri Mollakara.

TARGETING 3.5 TONS OF GOLD PRODUCTION A YEAR

Stating that they are planning to start gold casting by the end of next year, Gulal stated that they plan to produce 3-3.5 tons of gold annually as of 2023.

“WE HOPE THE AMOUNT OF GOLD WILL INCREASE”

Gulal stated that an extremely valuable and meaningful facility for both the country and the regional economy will be built in Mollakara, “There is a gold reserve of 20 tons. In addition, we have 16 more exploration licenses in Van and Agri. Our work on permits for these continues. We think that we will obtain positive results from the drilling works to be carried out here after those permits are completed. Thus, we believe that both the economic life of our facility and the amount of gold we will extract will increase.”

“WE ARE GETTING POSITIVE RESULTS FROM OUR NEW DRILLING WORK”

Muhiddin Gulal stated that Koza Gold produced 11 tons of gold in 2019 and 8.1 tons last year, adding that they aim to increase the annual gold production of Turkey from 42 tons to 100 tons in the next 5 years, and Koza Gold to a minimum of 15 tons.

Source: Sabah / Translated by Irem Yildiz

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