Turkey is looking to increase its gold production to 100 tons per year

Turkish Minister of Energy and Natural Resources Fatih Donmez announced that his country aims to raise its gold production to 100 tons annually within the next five years.

He said in an interview with Anadolu Agency, that Turkey achieved a record last year in gold production, which reached 38 tons, an increase of about 40% over the previous year, and aims to produce 44-45 tons this year despite the outbreak of the Corona epidemic.

He added, "Gold production requires long-term research and long-term investment," noting that "gold consumption in Turkey is high."

He explained that his country was not producing gold before the year 2000, and it imports annually 130-160 tons at a value of 8-10 billion dollars.

According to Donmaz, "Turkey imported gold worth 11 billion dollars, during the first half of this year, the highest value of its imports.