Mollakara Gold Mine opens in Ağrı with $250 million investment

The Mollakara Gold Mine in the Diyadin district of Ağrı has officially opened following an 18-year period of exploration and engineering. The facility, developed by Türk Altın İşletmeleri under the Turkey Wealth Fund with a $250 million investment, successfully completed its first gold pour on July 16.

Vice President Cevdet Yılmaz stated that the mine is expected to produce approximately 17 tons of gold within its first five years. This production is projected to increase Turkey's total annual gold output by 10%, rising from roughly 30 tons to 33 tons. The investment is estimated to contribute $2.5 billion to the country's current account balance by reducing reliance on gold imports.

The mine holds a visible and probable reserve of 471,000 ounces of gold. Operationally, the facility features a 4,700-decare licensed area and a crushing-screening capacity of 958 tons per hour. The project aims to provide significant regional economic benefits, with expectations that it will directly impact between 1,500 and 1,700 people through employment and economic activity.