Eti Bakır announces $2.2 billion investment in Turkish copper production

Eti Bakır, a subsidiary of Cengiz Holding, has announced a total investment of $2.2 billion to expand copper production in Turkey. The investment covers new production sites in Elazığ, Çanakkale, and Sinop, as well as capacity increases in Samsun.

A new facility in the Maden district of Elazığ has officially begun operations this month following an $800 million investment. This site is expected to process 1 million tons of run-of-mine ore annually and provides employment for 700 people. The facility also supports a circular economy model, where pyrite byproducts will be sent to the Mazıdağı plant to recover valuable metals such as cobalt and zinc.

In Samsun, capacity expansion at the refining and electrolysis plant has increased annual cathode copper production from 70,000 to 90,000 tons, meeting approximately 25% of Turkey's copper demand. Additionally, the Halilağa Copper Mine project in Çanakkale, managed by Truva Bakır, is planned to become operational by the end of the year with an investment of $600 million. The company has also strengthened its position through the acquisition of Çayeli Bakır and Anagold Madencilik.