Turkey plans to start commodities exchange this year

Turkey reportedly plans to establish a mining exchange that will expand financing opportunities and improve price transparency.

Regulatory approval is expected shortly, with operations likely to begin this year, the state-owned Anadolu news agency reported, quoting Mehmet Yılmaz, chairman of the Turkish Miners Association.

The planned exchange will provide reference price formation, especially for strategic minerals such as gold, copper, boron and rare earth elements, thus making prices more transparent.

The exchange is expected to be located at the Istanbul Financial Center.  

Yılmaz said gold around $5,000 per ounce has become the “new normal”, adding that higher prices pose a challenge for importing countries such as Turkey.

Based on 2025 data, every rise of $100 per ounce in gold has a roughly $400 million negative impact on Turkey’s current-account balance, he said.

Spot gold dropped 1.5 percent to $5,150 per ounce on Tuesday.

Turkey’s gold production declined to 28.4 tonnes in 2025, about half the sector’s target and the lowest in five years, Yılmaz said. Gold imports reached 126.3 tonnes.

Mining exports rose 3 percent last year to $6.2 billion, he said, as Anakara signed government-to-government deals with Niger, Sudan, Somalia and Uzbekistan.

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