10 Million Tons Copper Reserve Found in Turkey

[BordoEnes]

Copper reserve founded in Kastamonu city. Asya Mining Firm has been maked drilling to Kastamonu's potential mining areas and found coppers. The general manager of Asya Mining called Naci Sali said that' Exact reserve more than 10 million Tons that we detected. Arguing that the largest copper mine field has been detected in the history of the Turkish Republican.' Mayor of the Town 'Stating that something wonderful will change the destiny of the city'
http://ekonomi.milliyet.com.tr/bu-r...i/ekonomidetay/02.03.2012/1510275/default.htm

The Price of Copper per ton = 8571.6 $ (from international Metal Exchange)

10 million Tons Copper's = About 86 Billion $

 

[behappy]

congrats

 

[Mosamania]

Maybe this is why the Greeks invaded Troy in the copper era?? But they only now found out about this??

 

[Sher Malang]

Good, we have 240 mln metric tons of world class copper only in my village which is given to a Chinese company for extraction.

 

[Zulkarneyn]

Good, we have 240 mln metric tons of world class copper only in my village which is given to a Chinese company for extraction.

"... and this children is what we call modern colonialism"

 

[twilight]

"... and this children is what we call modern colonialism"

Afghans haven't technology to extraction it by themselves ... so Chinese will do it for Afghans ... IMO it isn't colonialism ....

 

[silko]

IMO it isn't colonialism ....

true, it is "modern colonialism" az Zulkarneyn said.

 

[Shardul.....the lion]

true, it is "modern colonialism" az Zulkarneyn said.

Yes its modern colonisation, same situation in Africa, to its a mineral rich continent but still underdeveloped.

@topic, congratulations for the find.

 

[Sher Malang]

"... and this children is what we call modern colonialism"

And still you can't make a comparison!

 

[killerx]

thats good for turk economy and i think pakistan blochistan region has even more and the only problem is winning there hearts.

 

[BordoEnes]

Like Medicine to our economie

 

[Quasar]

Turkey Mining Industry Outlook – Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016

Mining exploration will be an attractive investment opportunity in Turkey over the forecast period. According to a government organization, Turkish Coal Enterprises, Turkey is rich in mineral wealth which has only been partially explored and is currently underdeveloped. This could create massive growth prospects for mining companies in Turkey and opportunities for new businesses. Moreover, the economic prospects in Turkey are expected to remain positive over the forecast period, which suggests a massive opportunity for growth for mining companies over the forecast period. Further, the Turkish government has encouraged foreign investments through its liberal FDI policy and its planned accession to the EU. Fulfilling the accession criteria for joining the EU forced the Turkish government to initiate a series of political, economic and governance reforms in the country. These reforms have encouraged more transparency in business interactions and privatization, which created a favorable operating environment for the mining industry during the review period.

The Turkish mining industry grew at a compound annual growth rate (CAGR) of 5.8% during the review period (2007–2011), and is projected to grow at CAGR of 4.56% over the forecast period. The non-metallic mineral category accounts for the majority of mined resources in Turkey. In 2011, non-metallic minerals represented 51.1% of total Turkish mining production in volume terms, coal accounted for a share of 45.5% of Turkish mining production volume, while metallic minerals accounted for 3.4%.

Turkey Mining Industry Outlook

 

[Saithan]

"... and this children is what we call modern colonialism"

Don't be so harsh, I think we may have similar problem with the boron in Turkey, we're only able to mine it, but not turn it into something useful. So we export the raw material which is pretty sad IMO.

Perhaps Afghanistan is getting something more from the deal and not just have the chinese excavate it. Maybe the deal includes a complete take over in 10-15 years.

I think Turkey would have offered something similar, with the exception that the workforce would be afghans, but the management would be Turkish. Something to do with work ethics I think. I read an article recently that pointed out how turkish businessmen had success in Iran based on their work ethics.