In an astonishing search, a huge gold reserve has been unearthed in Turkey weighing as much as 99 tonnes, valued around $6 billion or Rs 44,000 crore.
According to the state-run news agency Anadolu, the gold treasure hunt was done by Gubertas — a fertilizer manufacturing company — along with Fahrettin Poyraz, head of the country’s Agricultural Credit Cooperatives.
It is interesting to note that the value of discovered gold is said to be more than the gross domestic Product (GDP) of most countries in the world.
According to the world meter, the GDP of Maldives is $4.87 billion, Liberia is $3.29 billion, Bhutan is $2.53 billion, Burundi is $3.17 billion.
Soon after the gold reserve was uncovered, the shares of Gubertas in Turkey’s stock exchange Borsa Istanbul shot up by 10 per cent.
Earlier in September, Turkey’s energy Minister Faith Donmez had set a target to reach an annual production of 100 tons. With this year’s production of 38 tons of gold, the country has already broken its record.
It is reported that the first extraction of gold is to take place within two years, adding value to the Turkish economy.
Another boost to the Turkish economy is the rehabilitation of Syrian refugees in the country. The European Union will inject nearly $590 million over the next five years.
The project is aimed at financially supporting more than 1.8 million refugees and to educate more than 70,000 children.