Articles

The Mining Law Review 5th Edition - Turkey Capital Markets

I. INTRODUCTION


Mining investment has increased in recent years, and now plays a significant role in the
Turkish economy. More than 70 types of mineral are found in Turkey, nearly all of which
attract investors, but those that are categorised as ‘precious metals’ are generally of the highest
interest. Since the business of mining was rapidly growing and has become more liberalised
each day, the Turkish government considered taking measures in order to regulate the precious
metals sector, and established the Istanbul Gold Exchange (IGE) in July 2005.
Following the establishment of the Borsa Istanbul AS (BIST), the unlisted trade of
gold has been prohibited, and a fair and competitive marketplace has been provided for
investors. Likewise, competition between Turkish gold mine investors and foreign gold
mine investors has increased. It should also be noted that since the BIST provides certain
standards for gold to be traded on the metals exchange, the overall quality within the sector
has increased and become standardised.
The duties of the BIST include the determination of reference prices for precious
metals, the provision of integration to national and international markets, the preparation
of relevant legislation, the taking of measures in the event that any problems occur in the
exchange and the provision of precious metal markets.

The Mining Law Review
Reproduced with permission from Law Business Research Ltd.
This article was first published in The Mining Law Review - Edition 5
(published in 2016 – editor Erik Richer La Flèche)
For further information please email
nick.barette@lbresearch.com