Precious Metals Mining in Turkey to 2020-a Focus on the Gold Industry

Precious Metals Mining in Turkey to 2020-a Focus on the Gold Industry

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Executive Summary

Precious Metals Mining in Turkey to 2020-a Focus on the Gold Industry


Turkey leads in European gold production and is likely to be a prominent future global gold producer. In 2013, according to the Turkish Gold Miners Association (TGMA), the country accounted for approximately 1.2% of global gold mine production, or 1.2 million ounces-an increase of 13.2% over the previous year-although the country has to scale up to 1.8 million ounces (50 tonnes) by 2015 in order to be among the world's top 15 gold producers. Turkish gold mine production is forecast to grow at a compound annual growth rate (CAGR) of 9.5% over the forecast period (2014-2020), to reach 2.1 million ounces in 2020.


The report contains an overview of the Turkish gold mining industry together with the key growth factors and restraints affecting the industry. It also provides information about reserves, production, prices, competitive landscape, major active, exploration and development projects and the fiscal regime of the country.

Reasons to buy

Gain an understanding of the Turkish gold mining industry, the relevant drivers and restraining factors, reserves, historical and forecast production, global gold prices, competitive landscape and the fiscal regime.

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Ankur Gupta, Head Marketing & Communications


1 Table of Contents

1 Executive Summary 1

2 Precious Metals Mining In Turkey 6

2.1 Country Overview 6

2.2 Mining Overview 6

2.3 Precious Metal Mining in Turkey-Drivers 7

2.4 Precious Metals Mining in Turkey-Restraints 7

3 Gold Mining in Turkey-Reserves and Production 9

3.1 Reserves by Grades and Geographic Regions 9

3.2 Historical and Forecast Production 10

3.2.1 Total production, by province 12

3.3 Gold Prices 13

3.4 Total Production by Major Mines 14

3.5 Major Exploration and Development Projects 15

3.6 Turkish vs. Global Gold Mine Production 16

4 Competitive Landscape 17

4.1 Koza Altin Isletmeleri AS 17

4.2 Alacer Gold Corp. 17

4.3 Eldorado Gold Corporation 18

4.4 Ariana Resources 19

4.5 Alamos Gold Inc. 20

5 Fiscal Regime 22

5.1 The Turkish Mining Industry-Governing Body 22

5.1.1 Ministry of Energy and Natural Resources 22

5.2 The Turkish Mining Industry-Governing Law 22

5.3 The Turkish Mining Industry-Mining Ownership and License Types 22

5.3.1 Ownership of minerals 22

5.3.2 Mining license 22

5.3.3 Exploration license 22

5.3.4 Operation license 22

5.3.5 Operation permit 22

5.4 The Turkish Mining Industry-Mining Rights and Obligations 23

5.4.1 Rights 23

5.4.2 Obligations 24

5.5 The Turkish Mining Industry-Key Fiscal Terms 24

5.5.1 Duties and security deposit (guarantee fee) 24

5.5.2 Royalty rates 24

5.5.3 Corporate tax 25

5.5.4 Capital gains tax 25

5.5.5 Loss carry forward 25

5.5.6 Property tax 25

5.5.7 Withholding tax 25

5.5.8 Tax incentives 25

5.5.9 Stamp duty 25

5.5.10 Motor vehicle tax 25

5.5.11 Depreciation tax 26

5.5.12 Value added tax (VAT) 26

6 Appendix 27

6.1 What is this Report About? 27

6.2 Methodology 27

6.3 Secondary Research 27

6.4 Primary Research 28

6.5 Contact GlobalData 28

6.6 About GlobalData 28

6.7 GlobalData's Services 29

6.8 Disclaimer 30

1.2 List of Figures

Figure 1: Precious Metals Mining in Turkey-Distribution and Classification of Gold Deposits 10

Figure 2: Precious Metals Mining in Turkey-Gold Mine Production (Thousand Ounces), 2000-2020 11

Figure 3: World Nominal Gold Prices-US$/oz (2000-2013) 13

Figure 4: World Nominal Gold Prices-US$/oz (2013-2020) 14

Figure 5: Gold Mining in Turkey-Turkish vs. Global Gold Mine Production (%), 2013 16

1.1 List of Tables

Table 1: Precious Metals Mining in Turkey-Gold Reserves and Resources, 2014 9

Table 2: Precious Metals Mining in Turkey-Gold Mine Production (Thousand Ounces), 2000-2020 12

Table 3: Precious Metals Mining in Turkey-Major Active Mines (Thousand Ounces), 2014 14

Table 4: Precious Metals Mining in Turkey-Major Exploration Projects (Thousand Ounces), 2014 15

Table 5: Precious Metals Mining in Turkey-Major Development Projects (Thousand Ounces), 2014 15

Table 6: Precious Metals Mining in Turkey-Koza Altin Isletmeleri AS, Major Projects, 2014 17

Table 7: Precious Metals Mining in Turkey-Alacer Gold Corp., Major Projects, 2014 18

Table 8: Precious Metals Mining in Turkey-Eldorado Gold Corporation, Major Projects, 2014 19

Table 9: Precious Metals Mining in Turkey-Ariana Resources Plc, Major Projects, 2014 20

Table 10: Precious Metals Mining in Turkey-Alamos Gold Inc., Major Projects, 2014 21

Table 11: The Mining Industry in Turkey-Withholding Tax Rates (%), 2014 25

Table 12: The Mining Industry in Turkey-Depreciation Tax Rates (%), 2014 26

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Koza Altin Isletmeleri AS, Alacer Gold Corp., Eldorado Gold Corporation, Ariana Resources, Alamos Gold Inc.

Turkey, gold mining, gold reserves province, historic gold mine production, forecast production, active projects, fiscal, price

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