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Turkish gold miners would raise annual gold production to 100 tons within five years with faster permitting and improved access to financing, requiring an additional $5 billion to $10 billion in investment, a sector head said.
"The target is a strategic necessity in terms of reducing the current account deficit and strengthening reserve security," Hasan Yucel, head of the Gold Miners Association, said, adding that clearer planning and decision mechanisms would allow production to rise first to around 50 tons and then to 100 tons per year.
Türkiye’s annual gold production stands at about 28 tons as of 2025, while tested underground gold resources are estimated at roughly 6,500 tons. Production previously peaked at about 42 tons in 2020 before fluctuating in the following years.
Meanwhile, the country imports $23.13 billion worth of unprocessed gold against only $3 billion in exports, resulting in a trade gap of about $20 billion on an annualized basis as of November 2025.
He said global gold production stands at around 3,500 tons per year, while worldwide demand exceeded 5,000 tons last year for the first time, adding that the gap between supply and demand creates upward pressure on prices and is reflected in Türkiye’s external balance.
Highlighting gold’s strategic role as a safe haven asset during periods of global uncertainty, Yucel argued that rising central bank purchases and continued geopolitical risks make domestic production more critical. He added that Türkiye should prioritize domestic production over imports, as higher output would reduce external dependency and help secure the gold supply.
"Geopolitical risks have not disappeared," Yucel told state-run Anadolu Agency. "While the Iran crisis and the Russia-Ukraine war continue, the need for safe haven assets remains alive."
Yucel emphasized that better use of underground resources and the country’s strong refining and jewelry capacity could also broaden Türkiye’s role in gold processing and trade. "Türkiye can become a regional hub that not only processes its own gold but also refines and trades gold from neighboring countries," he said.
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