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20-ton gold and 3.5-ton silver reserves discovered in Turkey’s Ağrı province

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20-ton gold and 3.5-ton silver reserves discovered in Turkey’s Ağrı province

An enormous 20-ton gold reserve price $1.2 billion has been found in Turkey’s japanese province of Ağrı, the Turkish and know-how minister introduced on Thursday.

As well as, a 3.5-ton silver reserve, price $2.8 million, was additionally found in the identical area, Mustafa Varank stated at a groundbreaking ceremony for Turkish gold mining agency Koza Altın‘s new facility in Ağrı.

The $160 million facility, which is able to make use of 500 individuals instantly and not directly and supply 2,000 jobs, has big significance for the financial system of each Turkey and the area, stated Varank.

The ability is anticipated to start out gold casting within the final quarter of 2022, he added.

He stated surveying and exploration are persevering with to search out rather more gold within the mine.

Referring to Turkey‘s mining sector, he stated 13,000 individuals are working within the sector, with investments reaching $6 billion so far.

“Turkey, which within the early 2000s was unable to supply even one gram of gold, final yr produced 42 tons of gold in 18 lively mines regardless of the pandemic,” Varank stated, highlighting mining accomplishments beneath the Justice and Improvement (AK) Social gathering, which got here to energy in 2001.

Whereas earlier than 2001, all of Turkey’s gold wants have been met by imports, now Turkey’s gold manufacturing reduces the nation’s present deficit by $2.4 billion yearly, he famous, including:

“However we do not take into account these efforts sufficient, we’re going ahead with many new initiatives that can take the sector even additional.”

Varank stated that via many of the republic’s historical past, it by no means prioritized mining.

He defined: “Till the early 2000s, gold was not produced (in Turkey). Is that as a result of there isn’t any gold (right here)? In fact not. Turkey ranks twelfth on the planet when it comes to confirmed gold reserves, and once we have a look at the potential, it is among the many high 5.”

“Our nation has been left behind in gold manufacturing on account of neglect, lack of imaginative and prescient, and even incompetence,” he added.

He careworn {that a} Uncommon Earth Parts Software and Analysis Middle will likely be based at Turkey’s Munzur College for analysis and improvement in addition to manufacturing actions for high-tech merchandise in fields akin to aviation, electronics, and automotive.

Final December one gold discovery-3.5 million ounces price $6 billion-was made within the northwestern Marmara area by Turkish fertilizer producer Gübretaş.

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