Mining sector must catch up with energy industry

Energy and Natural Resources Minister Yıldız underlined that one of the major shortcomings of the sector is that absence of an inventory and that a list detailing the richness of the country must be compiled.

Mining sector must catch up with energy industry

World Bulletin/News Desk

Energy and Natural Resources Minister Taner Yıldız stressed on Sunday that the mining sector should not lag behind while Turkey is experiencing a huge transformation in the energy industry and it should manage its growth accordingly.

Speaking at a mining sector meeting in the province of Malatya, Yıldız informed participants that there are many successful companies in the mining sector that make the country proud with their profits of $7 billion, adding that compared to 10 years ago, the number of projects exploring for mines has increased almost twelvefold in the country.

Yıldız underlined that one of the major shortcomings of the sector is that absence of an inventory and that a list detailing the richness of the country must be compiled. Noting that the mining exports of the country had increased to $4 billion from $700 million 10 years ago, he said the 2023 target is to achieve $20 billion. Minister also commented that Turkey lists in the top 10 in the world for diversity of mining sources and 28th for mine production. He stated: “We are working with our academics and universities to invest in the future of the sector. On average, the mining sector contributes 2 percent of the gross domestic product [GDP], which is around 1.4 percent in Turkey. In order to reach to world average, we need to make $4.5 billion worth of investments so we need to bring more attention to the presence of our resources.”

Last Mod: 29 Nisan 2013, 10:12
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