Nearly 60 different minerals are produced in Turkey and the country is ranked in many markets as one of the principal suppliers of raw materials (see panel). According to the Mineral Research and Exploration General Directorate of Turkey (MTA), Turkey is tenth in the world in terms of the variety of mineral resources found in the country.
In June 2004 the Turkish government amended the country’s mining law. Essentially the new law seeks to create a more investment-friendly environment for foreign firms, principally by shortening and easing the permitting process, reducing the fees to be paid by licence holders, and removing the limitation of mining activities on certain types of lands. The amendment, long overdue, is hoped to make Turkey’s mineral resources more attractive to investors.
However, regarding underground resources, according to Turkish law these are not considered to be part of the land where they...