Türkiye is planning to establish a mining exchange aimed at expanding financing options and enhancing price transparency in the sector, the head of the country's miners' association said, according to remarks published on Monday.
Mehmet Yılmaz, chairperson of the Turkish Miners Association (TMD), said regulatory approval is expected, and the platform is planned to launch in 2026.
Speaking to journalists in Ankara, Yılmaz said the plan, included in Türkiye's 12th Development Plan, would help create reference prices for strategic minerals such as gold, copper, boron and rare earth elements, making prices more transparent and traceable.
The 12th Development Plan, the second drawn up under Türkiye's presidential system, spans the years 2024-2028.
The exchange is planned to be based at the Istanbul Financial Center (IFC). An application has been submitted by the Energy Exchange Istanbul (EXIST) to the Capital Markets Board of Türkiye (CMB), Yılmaz said.
"The mining exchange aims to create a more predictable market depth for producers and investors, while providing a lower-risk trading environment," he said.
Gold at $5,000 seen as 'new normal'
Also, Yılmaz said gold prices around $5,000 per ounce were becoming "a new normal," noting that higher prices pose a challenge for importing countries like Türkiye.
"Based on 2025 data, every $100-per-ounce increase in gold prices has an approximately $400 million negative impact on Türkiye's current account balance," he said.
According to Yılmaz, Türkiye's gold production fell to 28.4 tons by the end of 2025, about half of the sector's target and the lowest level in five years, while total gold imports reached 126.3 tonnes.
At the same time, Yılmaz said silver imports nearly doubled to 860 tons last year, driven by strong industrial and investment demand, particularly from the solar and electronics sectors.
Mining exports rise
Türkiye's mining exports rose 3.4% last year to $6.2 billion, he said.
Yilmaz said Türkiye expanded overseas through government-to-government agreements in 2025, signing deals with Niger, Sudan, Somalia and Uzbekistan.
He also pointed to closer ties with Canada, saying Türkiye would pursue strong cooperation on mining technologies and financing, supported by the planned mining exchange.
"Mining accounts for about 1% of GDP, but exports exceed $6 billion and the potential runs into trillions of dollars," he said and added: "After agriculture, mining is Türkiye's second most strategic sector."