The Mining Law Review 5th Edition - Turkey Mining
With its natural resources and active business environment, the Turkish mining sector is increasingly attractive to investors. The Turkish government has acknowledged the increasing foreign and local interest in the sector by enacting certain amendments to the existing legislation, and has provided governmental incentives since 2012 (as further detailed below). As is the case for most sectors in Turkey, the government welcomes foreign investment in the mining sector. With the aid of the recent amendments in the legislation and governmental incentives, the mining industry is expected to prosper in 2015.
II. LEGAL FRAMEWORK
The principal regulatory body that governs the mining sector is the General Directorate of Mining Affairs (GDMA), a unit of the Turkish Ministry of Energy and Natural Resources (the Ministry). The GDMA regulates mining activities, and issues relevant mining licences and permits for different areas of mining activities; however, as per the circular of the Prime Ministry dated 16 June 2012 and numbered 2012/15, the issuance of mining licences is subject to approval of the Prime Ministry.
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)
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