Turkey's gold production hits record high in 2020 amid pandemic

2021-01-07 12:35:48 GMT2021-01-07 20:35:48(Beijing Time) Xinhua English

ISTANBUL, Jan. 7 (Xinhua) -- Turkey's gold production surged to a record high of 42 tons in 2020 for the first time in its history despite the challenging COVID-19 pandemic conditions, Energy and Natural Resources Minister Fatih Donmez announced Thursday.

"Consequently, the production has made 2.4 billion U.S. dollars of contribution to the country's economy," Donmez said at a televised meeting with the representatives of the Gold Miners Association of Turkey.

The minister also pointed out that gold became the second most imported product after oil in 2020 in the field of energy and mining.

"We imported approximately 25 billion dollars of gold with a 123 percent increase compared to 2019," he said.

Meanwhile, Turkey's gold products export stood at 6 billion dollars last year, Donmez also noted, emphasizing the big gap between the export and import figures.

The minister added that Turkey plans to launch 20 new gold mine projects and increase the gold production to 100 tons in the upcoming period.

The new projects would also contribute to reducing the gold driven current account deficit significantly, he stressed.

Turkey has started to produce gold in 2001 for the first time with 1.4 tons, and during the last 20 years, the total production reached 382 tons, according to the minister. Currently, gold continues to be mined in 18 gold mines across Turkey. Enditem