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. This sector could help reduce the current deficit and reduce reliance on imports. Turkey is rich in 70 of the 90 minerals traded globally, and experts emphasize the importance of unlocking this potential. “Societies unaware of their mineral wealth often become poor stewards of valuable resources. Without exploring and extracting minerals, we will remain dependent on foreign sources for raw materials and energy, paying tens of billions annually,” said industry experts.
Dr. Muhterem Köse, a mining engineering expert, argues that the economic strength of developed nations stems largely from how they efficiently utilize their natural resources. He points to the United States as a prime example, where the economy generates $3.8 trillion in added value from $105 billion worth of ore and $45 billion in scrap metal. In 2023, Turkey paid a total of $145.2 billion for energy, mining, and metal imports, with $106 billion of this external deficit attributed to these products.
Representatives from the mining sector assert that the country’s industrialization and growth will hinge on increasing the consumption of metals and energy, both vital for production. “Turkey must either import the energy, raw materials, and metals it needs, or harness its own potential. There’s no alternative. Without reducing dependence on foreign sources, Turkey cannot become a developed and strong nation,” they argue.
However, the sector faces significant regulatory challenges. Mining activities in Turkey are governed by nine ministries, 21 institutions, and numerous laws and regulations. Sector representatives call for a streamlined process that allows permits to be handled in one place, making it easier to explore and develop resources.
In terms of foreign trade, Turkey’s energy and mineral-related deficit stands at $100 billion, with $60 billion resulting from imports of minerals, metals, and gold. Sector representatives emphasize that Turkey’s considerable underground wealth, if effectively exploited, could eventually generate $100 billion in exports from value-added products.
Turkey is already a major player in global mining, being the largest exporter of marble, feldspar, and travertine, the second-largest exporter of chrome ore, and the largest producer and exporter of boron. The country ranks third in natural stone production, eighth in zinc production, tenth in lead production, and eleventh in global gold reserves. To fully harness this potential, new exploration and investments are needed.
Erol Yüce, Vice Chairman of the Istanbul Mineral Exporters’ Association (İMİB), highlights the importance of supporting exporters in the mining sector. In 2023, Turkey achieved $4.258 billion in mineral exports, with a 3.91% increase, and in the first nine months of 2024, exports rose to $4.424 billion. China was the largest buyer of Turkish minerals, accounting for $1.259 billion of these exports, with a 10.36% increase. The USA, however, saw a slight decrease in exports.
The mining sector’s importance goes beyond economic growth. Countries cannot develop without utilizing their underground resources, and mining is crucial for national security and technological advancement. Rare earth elements, essential in modern technology, are also found in Turkey’s mineral deposits. Moreover, mining attracts investment, as countries rich in raw materials tend to draw significant foreign investments. Over 25 years, China attracted $3 trillion in foreign investment by becoming the world’s largest producer and buyer of minerals.
Locally, the discovery of new mining areas boosts employment, infrastructure, and social life, with the revenues benefiting the public. Mining also ensures that critical resources are available for national industries, particularly for defense and energy sectors.
Turkey’s mineral wealth includes boron salts, barite, gypsum, marble, diatomite, perlite, magnesite, fluorite, limestone, feldspar, rock salt, and gold, among others. However, the country faces challenges in securing resources like copper, manganese, graphite, and coal. Addressing these gaps and fully exploiting existing resources is crucial for Turkey’s long-term economic security and growth.
In summary, mining plays a pivotal role in Turkey’s future. Without access to essential minerals, many everyday products and technologies would not be possible. To sustain development and strengthen its economy, Turkey must focus on exploration, extraction and value-added production in its mining sector.
