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NEWS Turkey breaks gold production record in its history

6 Jan 2020

The record in the history of the Republic was broken in gold production, in 2019. Gold Miners Association (AMD) President Hasan YUCEL announced that gold production in Turkey had gone up in 2018.

The president of AMD issued a written statement on gold production data for 2019. He pointed out that gold production which was 27.1 tons in 2018 had gone up to 38 tons in 2019, corresponding to an increase of 40 per cent.

He emphasized that despite all the controversy and negativity experienced in 2019 gold production had experienced a jump and added following; "This is a pleasing development for our country and our economy. Thus, we beat the gold production record of 33.5 tons in 2013. If there is no negativity, we anticipate that we will reach a new record in 2020 with a production of over 45 tons”.

Stating that the first gold production in Turkey had begun in 2001 president said, "while zero gold was produced in our country in 2000, our gold production started with 1.4 tons in 2001 and steadily increased reaching a record level of 38 tons in 2019. This record has also boosted the prospects of the sector”.

The president said, “as a result of scientific studies, Turkey's gold potential was found to be around 6,500 tons. For now, a thousand 100 tons were converted into reserve, 338 tons were produced and brought into the economy”.

He went on to say, "Turkey, depending on its traditions as well, ranks first in the world in the purchase of gold per capita. We have a current account deficit of $ 7-8 billion due to imports of about 140-160 tons of gold per year. However, by mobilizing its own potential, turkey can easily close 60 percent of this current account deficit due to gold imports in the next few years. We have the potential, the technology and the know-how to make this happen”.

 

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