Market trends

Developments in the mining sector in Turkey

In recent years, the mining industry in Turkey has experienced a boom. In this report, we look at the most important sectors and the leading mining companies at the present time. It is striking that several of the local companies have a monopoly in their sector. On the other hand, various international mining companies are gaining ground.

1 Economic development in Turkey

Despite considerable economic and export growth, the economic situation in Turkey does not seem to be improving. Factors contributing to this are a high inflation rate, a weak currency and increasing deterioration of the country’s foreign trade balance. The collapse of the Turkish lira has now taken on huge proportions. On the introduction of the new Turkish lira in January 2005, the exchange rate against the US dollar was still 1.35 lira/US$ or 0.74 US$/lira. Up to today, the exchange rate has fallen to 0.05 US$/lira (Fig. 1). That is for one dollar, you can...

Related articles:

Issue 01-02/2015 Amec Foster Wheeler

Expansion of a goldmine in Turkey

Amec Foster Wheeler today announces the award of a contract by Anagold Madencilik to provide basic design verification services for the expansion of the Çöpler Gold Mine in Turkey. The contract...

Issue 09/2023 Turn of the times

Development of the mining sector in India

1 Economic development India is now the fifth largest national economy in the world and, with sustained growth, it will rank third behind the USA and China by the end of this decade. Despite...

Issue 07-08/2016

Reorientation of the mining industry

China’s surplus capacities

1 Introduction At the beginning of this year, economic news sources carried the story that China intends to axe about every sixth job in the mining industry due to the substantial overcapacities in...

Issue 12/2015

Current Mining Development in Russia

Current Mining Development in Russia

1?Introduction About a year ago the RBTH media service of the Rossiyskaya Gazeta announced that Russia plans to mine rare earth metals on the moon. According to plans published by the Russian space...

Issue 05/2019 Prospects and trends

North America’s mining industry in the spotlight

1? Introduction In 2018, global exploration budgets for non-ferrous metals increased by 19?% to approximately US$ 10.1 billion (bn) from US$ 8.5 bn in 2017. This is the result of an analysis of...