TURKEY AIMS TO EXTRACT GOLD FROM SÖĞÜT MINE IN 2 YEARS: ERDOĞAN

Sat 26 December 2020:

“I hope we will extract our gold from mine in Söğüt in 2 years,” Turkish President Recep Tayyip Erdoğan said in his speech during an inauguration ceremony on Saturday.

Around 3.5 million ounces of gold that were detected in the mining field of Turkish Agricultural Credit Cooperatives’ subsidiary Gübretaş in the northwestern province of Bilecik is estimated to be worth around $6 billion (TL 46 billion), its chairperson said Tuesday.

“We are talking about a value of about $ 6 billion when we try to put it in value at today’s prices,” Turkish Agricultural Credit Cooperatives General Manager and Gübretaş Chairperson Fahrettin Poyraz said regarding the reserve in the Söğüt gold mine.

Poyraz stressed the Söğüt gold mine is among the important mines in the world.

He said that they have decided that they would extract the gold themselves and have set a two-year target to bring value to the economy.

“We will bring the value we get from here to Gübretaş and bring it to the Turkish agriculture and economy with renovation investments and new investments in the company’s facilities. Our technical preparations and financing work continue rapidly,” he noted.

“We aim to extract the first gold in two years and turn it into value for the Turkish economy,” Poyraz concluded.