Land 1500 hectares of licensed gold mine for sale in Turkey. The gold mine is located in Eastern Province of Turkey and is for sale as going concern. The mine has high analysis score and as such expected to be very profitable.
This is a rare opportunity to invest in a licensed gold mine in Turkey - it is very difficult to obtain gold mining licences in Turkey for new mine fields therefore a gold mine of such size with a licence in tact is indeed a rare opportunity in Turkey.
Turkey gives the right to operating companies to explore and operate mines in Turkey under licence and with payment of royalties to the state. Since 2004, foreign direct investment into the mining sector has been increasing steadily enabling Turkey to become the leading gold producer in Europe.
The new Turkish mining law was introduced in 2010 to be in line with international mining standards. Foreign companies are now keen to explore Turkey's gold reserves.
In year 2001, Turkey's gold production was a mere 1.4 tons. In 2010 this figure had jumped to 17 tons and in 2012 the figure reached 29 tons. This is almost 25 times growth in 11 years.
Geological modelling projections have shown that Turkey's gold reserves can be as high as 6,500 tons. At the rate of growth of Turkish gold mining sector, this means Turkey has minimum 70 more years of mining at the current annual growth rate.
Turkish Mining Law
In line with existing mining law in Turkey, minerals are divided into six groups, including precious metals, where gold is featured.
There is currently a 7 year exploration period and mining activities can start within one year of obtaining a mining licence. In other words, this particular land can be mined immediately.
If you hold an operation licence but fail to perform production, then there is a penalty payable of 10% of the royalty.
Where gold mining takes place on state-owned land, then the licence holder pays 30% royalty to the state.
If extracted minerals, including gold, are processed in Turkey, then the operator only pays 50% of the royalty payable. In other words, there is positive monetary incentives for processing the gold in Turkey.