Quick Contact
Need Help?
Please Feel Free To Contact Us. We Will Get Back To You With 1-2 Business Days.
danismanlık@legalter.net
Download
Company White Paper
1.30 MB
Company Media Kit
1.22 MB
The Mining Activities and Investment In Turkey
Mining and metal industry in Turkey has shown a strong growth momentum parallel to the country’s economy.In the extraction and transportation of the underground riches, Turkey has proven itself with its logistics infrastructure, extensive infrastructure, and extensive logistics network extending from the westernmost part of Europe to the easternmost part of Asia.
Regionally and globally, companies located in the mining-extraction and processing operations in Turkey began to attract attention in the world.
This situation draws the attention of companies that carry out their economic activities in the field of mining.In addition, in line with the government’s 2023 targets, a production capacity of 15 billion USD is targeted.
BRIEF INFORMATION ABOUT THE MINING SECTOR
SECTORAL SIZE
While the Mining Sector had a Sectoral Production Value of 27.8 billion TL in 2017, this value increased to 37.2 billion TL in 2018.
YOUNG AND DYNAMIC LABOR
There are 56 mining engineering departments in Universities in 38 provinces.
With the increase of these faculties opened in recent years, the number of Mining Engineers has increased by more than 50 percent since 2005, reaching 38,000 trained workforce.
LOW PRODUCTION COST
Proximity to major markets and reasonable drilling costs, government incentives and competitive taxes reduce costs.
INFORMATION REQUIRED TO KNOW ABOUT THE MINING ACTIVITIES IN TURKEY
2023 Target for Mining Sector is 15 Billion Dollars
Turkey had shown up on the acceleration of the mining sector, and supported the Government’s 2023 targets and the mining sector in 2023 reached USD 15 Billion is targeted goals. In this direction, the support and incentives provided directly by the State to the mining sector increase the development of mining activities and their contribution to the economy.
Educated and Dynamic Workforce
Turkey’s young, dynamic and well educated through labor, is transformed into a high-quality production center. There are 56 universities in Turkey in 38 provinces in mining engineering department. With the increase of these faculties opened in recent years, the number of mining engineers has increased by more than 50 percent since 2005, reaching 38,000 trained workforce. As of 2019, 1200 new mining engineers were added to the number of qualified workforce.
Government Incentives and Tax Supports In Turkey
Support and incentives provided to companies in Turkey’s mining sector is not limited to YETSAN labor force and low logistics costs, and have low prominently drilling costs, proximity to major markets (Europe, China, America, India) and with low taxes as to be competitive The mining industry is in a position to grow.
Turkey, extraordinary economic growth, with the support of structural reforms and governmental bodies, in 2018 the mining sector has attracted 183 million US dollars in foreign direct investment. These figures clearly confirm the growing interest of investors in Turkey.
In addition, Turkey as of 2004. As of today, only 138 international mining company, which currently number has increased to 773 international mining company level.
Turkey’s regional investment incentive system, according to the development level of the region varied between 1 to 6 and is based on the least developed regions decreased as a grading system given 6 points. With this system, the most advantageous incentives are offered to less developed regions (regions no. 3,4,5). Most of the investments in the mining sector are supported by incentives spread across Region 5, regardless of the investment location. It has been kept independent from this rating criterion for the development of the mining industry. This means, high reductions in SGK payments in employment, tax exemptions, support and tax exemptions in purchasing machinery, low interest rate loan supports.