Gold discovery in Bilecik to create 800 new jobs
Turkey discovered 1.92 million ounces of gold reserves in the country's northwestern province of Bilecik, the Energy and Natural Resources Minister Fatih Dönmez said on Feb. 3.
Speaking at the ruling Justice and Development Party's provincial congress in Bilecik, Dönmez said the new reserves are forecast to produce 6-7 tons of gold per year, while offering employment to 800 people.
Over the past 18 years, investments of nearly 4 billion Turkish Liras ($560 million) were realized in the
Bilecik province with 392 million liras (around $55 million) invested in the first half of 2020 alone, he said.
Turkey's gold production in 2020 reached the highest level in the history of the country at 42 tons, contributing $2.4 billion to the economy.
Nonetheless, the country's gold imports showed a year-on-year 123 percent increase to $25.2 billion in 2020.
Turkey has invested $6 billion in the gold sector, currently employing 13,200.
Turkey aims to increase its domestic gold production to 100 tons a year in the next five years, Energy and Natural Resources Minister Fatih Dönmez said.