Turkey Plans to Establish Mining Exchange for Strategic Minerals Transparency
Turkey is planning to establish a mining exchange to enhance financing options and price transparency for strategic minerals. The exchange, expected to operate under the Istanbul Financial Center, aims to facilitate the formation of reference prices for gold, copper, boron, and rare earth elements. An application has been submitted to the Capital Markets Board for regulatory approval, with operations anticipated to begin in 2026. The mining sector's potential is significant, yet it is underpriced in international markets.
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Turkey's Mining Association President Mehmet Yılmaz announced plans for a mining exchange aimed at improving financing and price transparency for strategic minerals. The exchange will focus on gold, copper, boron, and rare earth elements, providing more predictable market conditions.
An application has been made to the Capital Markets Board, targeting operational launch in 2026. Yılmaz highlighted that gold prices have reached a new normal of $5,000 per ounce, affecting the economy negatively, particularly concerning imports.
The mining export increased by 3.4% to $6.2 billion last year, with significant contributions from natural stones and metallic ores. Collaborations with Canada on mining technologies are also anticipated.
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