Posted by meb at May 8th, 2008

Turkey’s state-owned company responsible for mining, processing and marketing Turkey’s boron resources, Eti Mine Works is experiencing a golden era with significant rises in production volume, domestic sales and exports.

Turkey, which owns 72 percent of worlds’ total boron reserves, continues to work rapidly to realize its potential in mining, said Orhan Yılmaz, managing director of Eti Mine. The company has achieved historic figures in production, exports, sales and productivity due to a change in its administrative approach within the last five years, he added.

Eti Mine is expected to witness five-fold increase in its term profit for the period between 2005 and 2008. The company, which collected profits of YTL 54 million, YTL 193 million and YTL 215 million respectively in the three years through 2007, plans to rake in YTL 252 million in profit this year.

Eti Mine’s exports are predicted to surge 188 percent to $535 million this year, compared to 2002. The company, which exported boron chemicals worth $186 million in 2002, increased its export revenues to $384 million last year. Expecting to obtain $600 million in total sales revenues this year, the firm is aiming for $1 billion in 2012.
source: Turkish Daily News

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