Colossal Amount of Gold Treasure in Turkey: Here's all about $6 billion worth of Gold discovered in Sogut region

Dec 30, 2020, 12:40 IST

The Gold was discovered in the Central-West region of Turkey's Sogut by Gubretas Fertilizer Production Company. Its value is speculated to be $6 billion or INR 44,000 crores. 

Representational image: Gold discovered in Turkey
Representational image: Gold discovered in Turkey

Turkey has recently discovered a colossal amount of Gold treasure and the weight of the entire deposit is said to be more than the Gross Domestic Product (GDP) of many countries in the world. 

Highlights:

1- The Gold was discovered in the Central-West region of Sogut (a town in Turkey) by a fertiliser manufacturing company based in Turkey-- Gubretas Fertilizer Production Company. 

2- The total weight of the Gold treasure discovered in Turkey is 99 tonnes. 

3- The value of this massive Gold treasure is speculated to be $6 billion or INR 44,000 crores. 

4- The Chief of the Agricultural Credit Cooperatives of Turkish Gubretas Fertiliser Production firm, Fahrettin Poyraz shared this news. 

5- The news was confirmed by Anadolu, a state-run agency headquartered in Ankara, Turkey. 

As reported by Anadolu, Fahrettin Poyraz stated that the Gold will be mined in the next two years, bringing value to the Turkish economy. 

Gubretas Fertiliser Production firm won the Gold site with another company in the year 2019 after a Court order. After the Gold treasury discovery, the share price of the said firm rose by 10% on the Turkish stock exchange- Borsa Istanbul. 

Countries with less GDP than the Gold discovery in Turkey

As per the latest data on the World Bank, the countries with the GDP less than the Gold discovery in Turkey are as follows:

1- Maldives - $5.642 billion
2- Liberia - $3.071 billion
3- Bhutan - $2.531 billion
4- Lesotho - $2.376 billion
5- Montenegro - $5.543 billion
6- Guyana - $5.174 billion
7- Barbados - $5.209 billion

This is not the first time that Turkey has managed to discover a colossal amount of Gold treasure. In September 2020, Turkey produced a record-breaking amount of Gold-- 38 tonnes or 38,000 Kgs. 

In September 2020, Turkish Minister of Energy and Natural Resources, Fatih Donmez had stated that the country has broken a record with the production of 38 tonnes Gold and his aim for the next five years is of annual Gold production to 100 tonnes.

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Arfa Javaid
Arfa Javaid

Content Writer

Arfa Javaid is an academic content writer with 2+ years of experience in in the writing and editing industry. She is a Blogger, Youtuber and a published writer at YourQuote, Nojoto, UC News, NewsDog, and writers on competitive test preparation topics at jagranjosh.com

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