President Recep Tayyip Erdogan on On Friday, a huge gold mine was opened to process the discovered reserves in Northwest Bilecik Province in Late 2020.
about 109 tons of Gold has been discovered in mining field of Gübretaş subsidiary of Turkish Agricultural Credit Cooperatives in Sogut Bilecik district in December 2020. Estimated to be worth About 120 billion Turkish liras (about $6.38 billion).
Erdogan said in a speech delivered at the opening ceremony first The theater of the project completed with investment of About 70 million dollars. the total amount of Three stages of investment in Gold mine in He indicated that the value of Söğüt is set to reach $500 million.
“In the first Phase, this facility will work with annual production capacity of gold of up to 2.5 tons”, the figure is expected to reach up to 6.5 tons in Subsequent stages of accounting for about 15% of Turkey’s annual gold production.
We are planning to finalize the investments of The remaining two phases are within three years. Thus, we hope to increase annual production amount for about 6.5 tons” added.
Turkey produced 42 tons of gold in 2020, highest level than ever before, making a contribution of $2.4 billion in economy. Erdogan said that the country’s annual gold production amounted to 35 tons on an average.
“We aim to boost domestic gold production with the new The discoveries we will make. we need to use Ability of our country in gold, just as we do in in every field highest level in okay ensure balance in Our foreign trade, Erdogan said.
Enterprise in Bilecik currently employs 1,000 peoplea number Erdogan said was expected to reach 1,300 in Next period.
In 2008, the stadium was handed over over To Koza Altyn for Operations but transferred to Gübretaş in December 2019 following a lawsuit for cancellation of contract after former failed to fulfill its obligations.
Koza was captured and delivered over to the Turkey Savings Deposit Insurance Fund (TMSF) for its links to the Gölnist Terrorist Group (FETÖ), which was behind The coup attempt on July 15, 2016.
Turkey aims to reach a production level of 100 metric tons of gold per year in the next Five years, according to Energy and Natural Resources Minister Fatih Donmez.
