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28-01-20
Turkish gold production to increase by end of 2020
(MENAFN) As said by Hasan Yucel, president of Turkish Gold Miners Association, by the end of 2020, Turkish gold production is predicted to exceed the record high level in the history of the Turkish Republic that was made 2019.
According to Hasan Yucel, production is 2019 peaked at 38 tons but is expected to stand at a volume of 45 tons by the end of the year, "Turkey can easily produce 45 tons of gold by the end of the year, thanks to encouraging private sector investments and the number of production facilities that have become operational at the beginning of 2020".
Turkey produced as many as 338 tons of gold among 2001-2019 and based on scientific studies, possible profits total 6,500 tons from which 1,500 tons have been extracted until now, Yucel added.
He said that the import of 140-160 tons of gold yearly makes a shortage for Turkey of USD7-USD8 billion, adding that Turkey could easily erase 60 percent of this in the next few years because it has the potential, technology and the know-how.
MENAFN2801202000450000ID1099612850
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