Turkey Mining News

How central bank gold buying is undermining the dollar

The reason for central banks’ recent gold accumulations has little to do with safe havens and a lot to do with chipping away at the US dollar’s role as the reserve currency.

Alacer releases updated PFS for Turkey project

The PFS outlines a mine life of 11 years and total recovered metals of 345,000 ounces of gold, 8 million ounces of silver, 254 million pounds of copper and 626 million pounds of zinc.

Eldorado Gold announces resumption of crushing and stacking at Kisladag

Further testwork is underway, the results of which are expected to be available in late 2019 or early 2020.

Alamos Gold sells royalty portfolio to Metalla for $8m

Alamos will sell a portfolio of 18 royalties to Metalla Royalty and Streaming for $8 million in Metalla shares. Following the transaction, Alamos will own 6.26% of Metalla.

Eldorado begins commercial production at its first Canadian mine

The Lamaque underground gold mine in Val d’Or, Quebec, is expected to produce up to 135,000 ounces of the precious metal a year in 2020 and 2021.

Researchers learn to produce borophene on a gold surface

Borophene is the atom-flat form of boron. The findings constitute a step toward practical applications like wearable or transparent electronics.

30 countries face higher resource nationalism risk — report

On the upside, the RNI report shows that 24 nations have seen improvements in their index performance.

U.S. sanctions Venezuelan gold company for supporting Maduro

This is the sixth round of sanctions since January by the U.S., which is seeking to wrest power and the military’s loyalty away from Maduro.

Kyrgyz and Turkish miners join forces to develop gold projects in Central Asia

Kyrgyz gold producer Chaarat and Turkish mining and mine construction contractor Çiftay want to collaborate on the Tulkubash and Kyzyltash projects in the Kyrgyz Republic.

Eldorado to hike gold production to over 500,000 ounces in 2020

For 2019, the Canadian miner expects to produce between 390,000 and 420,000 ounces of gold.

Central bank gold buying surges to 50-year high

Russia, Turkey and Kazakhstan remained key buyers throughout the year.  

Eldorado Gold scraps mill at Turkish mine, resumes mining and heap leaching

Eldorado's shares jumped 12% in pre-market trading in New York on Thursday on the news.

Eldorado Gold counting down to open its first mine in Canada

The company is on track to kick off commercial production at its Lamaque project in Val d’Or, Quebec, during the first quarter of the year.

EU takes aim at Turkish steel sector already buckling under Trump tariffs

Our export markets have disappeared, the local market hardly exists, we've got lots of capacity and no market.

Alacer tables resource for Ardich in Turkey

Recent drill highlights include 48.5 metres grading 2.69 grams gold from 60 metres downhole and 42.5 metres grading 2.55 grams gold from 31 metres downhole.

Iraq's Kurds add capacity to oil pipeline to export Kirkuk crude

The link’s capacity increased to 1 million barrels a day from 900,000.

Russian steelmaker MMK delays decision on Turkish plant restart

One of Russia's largest steel producers has postponed a decision on the restart of hot-rolled steel production at its Turkish plant.

Russian steelmaker MMK cautious after strong quarter, delays Turkey project

While MMK said it sees stable demand for steel products in its markets, it warns that global steel prices could put pressure on results.

Central banks continue to stock gold but ETF investors dump bullion

The World Gold Council found that gold demand reached 964.3 tonnes in Q3.

Eldorado to invest $520 million in mill at its Turkish mine

The project would make Kışladağ a nine-year, 270,000-ounce-per-annum gold mine.

A golden escape  

The oil price is rising due to the upcoming restrictions on the sale of Iranian oil - the second of a two-part set of sanctions imposed on the Middle Eastern power following the Trump Administration’s decision in May to withdraw from the Joint Comprehensive Plan of Action (JCPA).

Central bank demand for gold reaches 3-year high

Egypt recently bought gold for the first time since 1978, India, Indonesia, Thailand and the Philippines have re-entered the gold market after years-long absences.

Seven new powerhouses to drive mineral demand: EMR exec

"It is not just China."

Hedge funds turned record short on metals just before the rout

As U.S.-China trade tensions escalated mid-June, fast-money traders flipped to a short position in metals overall.

Turkish cenbank to allow gold for forex, location swap deals

The Turkish central bank will allow gold for foreign exchange and location swap deals in order to provide physical gold transactions.