A large gold deposit was found in Turkey, with an estimated value of $1.7 billion
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A gold deposit with a potential volume of 424,000 ounces, or about 12 tons, has been discovered in Turkey. About said erdemir Mining Company, a leading integrated steel producer in Turkey.

According to the analysis, the deposit may contain 14 million tons of ore with a gold grade of 0.89 grams per ton. The estimated value of the discovery at the current exchange rate is $1.7 billion.

For comparison, the ore reserves at the world's largest gold deposit discovered in China in November 2024, was estimated at $83 billion.

Turkey's Erdemir holds a license to develop more than 5,800 hectares of land in Kangal County in Sivas Province, where the field is located. Drilling has already been carried out in 360 locations, where cores were taken.

Exploration work is ongoing. Infill drilling is currently underway to clarify the scope of resources and assess the mine's potential.

Ermaden noted that the evaluation of reserves is carried out by independent and competent organizations, including foreign structures.

  • In 2020, the then head of the State Service of Geology and Subsoil, Roman Opimakh said the Ukrainian gold ore potential is about 3,000 tons. In particular, the Carpathian region has proven reserves of about 55 tons, and Donbas has estimated deposits of more than 400 tons, Ukrainian shield – approximately 2,400 tons of gold, or 80% of the country's total reserves.
  • There is virtually no gold mining in Ukraine. The main reasons for this are the lack of exploration of the subsoil and the difficulty of launching the technological process and starting gold production.