1.9 C
Belgrade
Supported byspot_img
spot_img

Mining sector in Turkey expects a large growth this year

Member of Europium Groupspot_img
Supported byspot_img

The mining sector in Turkey completed 2020 with nearly 4 billion dollars of export, with only 1-percent loss caused by the adverse impacts of the COVID-19 pandemic.

Turkey’s mining sector expects to take a giant step in mining activities in 2021 if it receives enhanced government support, said Rustem Cetinkaya, a member of the Sectors Council of the Turkish Exporters’ Assembly.

“If the sector gets the necessary incentives and full support from the government, the mining sector would contribute to Turkey’s total exports by 20 to 30 billion U.S. dollars,” Cetinkaya told Xinhua.

Supported by

In his view, global economies started to bring new expansions to their mining sectors, introducing geological mapping techniques, and adopting strong land tenure rules.

“Environmental and carbon footprint sensitivity also became at the forefront,” he noted.

Cetinkaya believes 2021 and 2022 will be the years of new projects and further investments in the Turkish mining sector, particularly in rare earth and precious metals.

“We are gradually increasing our regional and local cooperation to achieve our goals,” he added.

In March 2020, the sector experienced a severe contraction due to the pandemic, according to Cetinkaya. “The sector saw an 8.5-percent loss in industrial minerals and a 7-percent loss in natural stones.” But it caught a positive upward trend towards the end of the year with the increased prices of iron, copper, lead, and metallic ore. He noted that the sector would sustain this growth with the necessary incentives and would provide a significant contribution to Turkey to achieve its total export target of 200 billion dollars.

Source: xinhuanet.com

 

 

Supported byElevatePR Digital

Related News

Harnessing Turkey’s mineral potential for economic growth and reduced dependency

The mining sector has the potential to significantly boost Turkey's economy, with experts highlighting that the country's mineral wealth is valued at $3.5 trillion....

Protests in Turkey’s Kaz Mountains over copper mine’s environmental impact

The recent protest against the copper mine project in Turkey's Kaz Mountains highlights a significant environmental and social conflict. Locals and environmentalists, supported by...

Türkiye and Niger establish agreement to strengthen mining collaboration

Türkiye and Niger are set to enhance their collaboration in mineral exploration and mining following the signing of a memorandum of understanding (MoU) by...

EIT RawMaterials partners with Tethys to launch Inter-Regional Centre in Türkiye for critical raw materials innovation

EIT RawMaterials has announced a partnership with Türkiye-based Tethys: Trans-Eurasian Gateway to establish the “EIT RawMaterials Inter-Regional Centre” in Istanbul. This initiative represents EIT...
Supported by
Supported by
Supported by
error: Content is protected !!