Turkey’s underground reserves worth trillions remain unexploited

(MENAFN) Türkiye’s vast underground reserves, valued at an estimated $3.5 trillion, remain largely unexploited, though experts suggest they could significantly reduce the country’s large trade deficit, which surpasses $60 billion annually.

In the first half of this year alone, Türkiye’s trade shortfall was reported at $49.3 billion, with $20.8 billion tied to the mining and quarrying sector.

Current data shows that exploration and licensing cover only 7.7 million hectares (around 19 million acres) of the nation’s 302.5 million square miles of territory. Of that, just 0.1% is under active mining licenses, and only a fraction of exploration permits ever convert into operational ones.

Mining within forest areas accounts for the same 0.1% of Türkiye’s land, while rehabilitation and reforestation — legally mandated after operations — have been carried out on approximately 113 square kilometers to date.

Mehmet Yilmaz, head of the Turkish Mining Association, emphasized the need to better harness these resources, arguing that the country is failing to capitalize on its potential to shrink the trade deficit. “Other countries like the US, Canada, Australia, Russia, China, and India consider their mining sectors key leading sectors,” he said, labeling Türkiye’s dependence on foreign sources as “unacceptable.”

He added, “All mining activities prioritizing local communities and the environment for sustainability should be given support,” referencing ongoing debates surrounding operations near olive groves.

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