Türkiye could produce 50 tons of gold annually, mining chief says - Türkiye Today

AI desk brief

Türkiye’s mining chief said the country has enough permitted and developing projects to lift annual gold output to about 50 tons, while arguing its broader geological potential may be at least 10,000 tons versus a 1990s estimate of 6,500 tons. He also flagged a bullish global backdrop from U.S. economic uncertainty and geopolitics, saying gold could trade at $4,500-$5,000/oz by year-end with $4,500 a key resistance level.

Yilmaz put average global gold production cost around $2,400/oz and argued prices are unlikely to fall materially below $3,000 even in a negative scenario. He said trade-route disruptions are pressuring cash flows and prompting some holders to sell, limiting the upside that geopolitics would otherwise provide, but added that normalizing trade conditions could free up another $500-$1,000/oz.