↓ SCROLL TO SEE MORE ↑

What are you looking for?

News

Turkey’s gold production hits all-time high in 2020

Turkey’s gold production hits all-time high in 2020

Turkey’s gold production in 2020 reached the highest level in the history of the republic, Energy and Natural Resources Minister Fatih Dönmez announced Thursday.

A total of 42 metric tons of gold were produced last year, Dönmez told a meeting with the Turkish Gold Miners Association (AMD) at the ministry in the capital Ankara.

“This (2020 production) has made a $2.4 billion (TL 17.6 billion) contribution to our economy,” Dönmez said.

The record supersedes the last high set in 2019 when 38 metric tons of gold were produced.

Turkey to date has invested $6 billion in the gold sector, which currently employs 13,200 people, the minister said.

Turkey started gold production in 2001 with a modest 1.4 tons. That level climbed steadily to reach a then-record high of 33.5 tons in 2013 when around 7,500 people were employed in the sector.

Dönmez said that over the past 20 years, 382 tons of gold have been produced, helping Turkey obtain tax revenues equivalent to 76 tons of gold.