Uranium Mining Market in North America to 2020 - Higher Production Driven by New Projects, Improved Mining Methods and Price Increases
- Published: June 2012
Turkey Mining Report provides industry professionals and strategists, corporate analysts, mining associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Turkey's mining industry.
Just as Turkey’s economy risks overheating with 11% y-o-y growth in Q111, BMI sees the country’s mining industry easing on the 8.3% real growth rate seen in 2010 to 4.9% in 2011, when the industry will be worth TRY14.23bn (US$9.17bn). With the potential to become one of the world’s leading mining sectors, Turkey continues to attract strong and consistent interest from miners. Turkey’s mining sector demonstrated considerable progress on a number of exploration and development pipeline mining projects in the second half of 2010 and the first half of 2011.
UK-based gold exploration firm Ariana Resources was approaching the production of 250,000 ounces of gold equivalent at its Red Rabbit project in Kiziltepe by late January 2011, after expanding its resource base at the site by 25% in October 2010. Ariana is planning to invest US$25mn in the overall development of the gold mine from various external sources.
Canadian miner Eldorado Gold began production at its Efemcukuru site in June 2011, feeding low-grade ore to its mill after obtaining a trial operating permit early that month, the company said. The company’s stockpiles at the project reached around 16,000 tonnes of ore at 10.5 grams per tonne gold. Eldorado now holds all permits necessary to produce gold at the project, although the company needs to apply for a full operating permit by June 2012 at the latest.
In a quarter of significant progress for Eldorado, the company also obtained approval for expansion of its Kisladag gold mine to lift annual production by 25% at the site, located southwest of Ankara. The company expects output to reach between 70,000 and 80,000 ounces of gold at Efemcukuru and between 270,000 and 285,000 ounces at Kisladag in 2011.
Alacer Gold completed its pre-feasibility study on increasing production at its Çöpler gold-copper project in March 2011, reports Mineweb. The life of the mine will be increased by 182%. Proven and probable reserves were increased from 2.2mn to 4.6mn contained ounces. Anatolia Minerals Development agreed to merge with Avoca Resources in September 2010, in a deal that would result in Alacer Gold Corporation – a company with a combined market capitalisation of around US$2bn. Meanwhile, Australia-based exploration firm Chesser Resources received high grade assay results in January 2011 from its 10,000m Phase 3 drill programme at its Kestanelik gold project in Turkey. According to Proactive Investors, results from the K1 Vein include gold mineralisation at the site of 5m of 26.5g/t, 3m of 43g/t and 1m of 99.3g/t.
According to BMI forecasts, the mining industry in Turkey is expected to reach a value of TRY22bn (US$14.17bn) in 2015, after growing at an average 5.5% over 2011-2015. SHOW LESS READ MORE >
Turkey Political SWOT
Turkey Economic SWOT
Turkey Business Environment SWOT
Global Mining Outlook
Political Risks Set To Rise
Table: Government Intervention
Table: New Coal Projects In Southern Africa
Table: Other Major Developments
Industry Trends And Developments
Table: Mines In Turkey
Regulatory Structure And Developments
Table: Europe Business Environment
Industry Forecast Scenario
Turkey’s Mining Industry Forecasts
Table: Turkey Mining Industry, 2008-2015
Table: Turkey’s Mining Industry – Key Players
Alacer Gold Corporation (formerly Anatolia Minerals Development)
Monthly Metals Update
Table: Global And Regional Real GDP Growth And Exchange Rates, 2009-2012
Table: GDP Growth, Inflation, Interest Rates And Exchange Rates, 2008-2014
Table: Developed States’ Real GDP Growth, 2009-2012 (% y-o-y)
Table: Emerging Markets’ Aggregate Growth, 2009-2012 (% y-o-y)
Business Environment Ratings Methodology
Table: Mining Business Environment Indicators
Table: Weighting Of Components
- Alacer Gold Corporation (formerly Anatolia Minerals Development)
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