Newsletters
Türkiye’s largest conglomerate, Koc Holding, has sold its gold mining license in the northwestern province of Balikesir to CVK Maden for €18.5 million ($21.4 million).
According to a statement filed with the Public Disclosure Platform (KAP) by the buyer, the agreement covers the Sarialan Gold Mine Project, and CVK Maden will make payments in installments over two years.
Under the agreement, CVK Maden will pay $3.5 million at signing, $3 million in 2026, and two equal installments totaling $6 million in 2027 and 2028.
In addition to these payments, Demir Export will receive a 3% Net Smelter Return (NSR) royalty from the mine’s production once extraction begins.
The company stated that official procedures have begun for the transfer of the license in line with its board resolution. The process will be finalized once approved by the General Directorate of Mining and Petroleum Affairs (MAPEG).
A public announcement will follow the completion of the regulatory review, the statement read.
Breaking News, Direct to You.
Follow Türkiye Today on WhatsApp
for real-time updates and key insights from Türkiye and beyond.
A report certified by the National Mineral Resources and Reserves Reporting Commission (UMREK) dated Oct. 21, 2025, states that the Sarialan site holds 69,627 ounces of measured gold reserves and 35,430 ounces of indicated gold reserves.
The report also lists 467,838 ounces of measured silver reserves.
When converted to gold equivalents, the total measured and indicated reserves are estimated at over 110,000 ounces.
Demir Export, established in 1957, is a key company within Koc Holding’s mining operations, active in iron, copper, coal, and gold projects across Türkiye.
Founded in 2006, CVK Maden, a publicly traded firm under the Cevik family’s industrial group, is recognized as an important player in metallic mining across the Marmara region.
1 min read
2 min read
