Gold production in Turkey Sets a New Record

Gold production in Turkey Sets a New Record

Gold production in Turkey hit a record in 2019 to 38 million tons, the highest level in the history of the Turkish Republic, according to a statement issued by the Turkish Gold Mines Workers Association.

The president of the association, Hassan Youjal, expected that gold production would rise to more than 45 tons to reach a new record.

According to Yogel, Turkey’s gold production sector employs approximately 10,000 people,

Noting that domestic gold production can also make a greater contribution to the economy by reducing the current account deficit.

He pointed out that Turkey imports every year between “140-160 tons of gold every year, which creates a deficit of between 7 and 8 billion dollars.”

And Turkey can reduce about 60 percent of this deficit easily in the next few years, because it has the capabilities and technology .

It is reported that Turkey started producing gold for the first time in 2001 when production was 1.4 tons.

This level rose steadily to a record level of 33.5 tons in 2013 when 7,500 people were working in the country’s gold production sector.

Gold production in Turkey decreased from 2014 to 2017, but rose to 27.1 tons in 2018 and increased by about 40 percent from that year to reach 38 tons in 2019,[/vc_column_text][/vc_column][/vc_row]