Eti Bakır Investing $2.2 Billion in Three New Production Sites

Eti Bakır, one of Türkiye's leading copper producers, is carrying out a total investment of $2.2 billion for three new production sites it has commissioned and planned in Elazığ, Çanakkale and Sinop. The company meets 25 percent of Türkiye's copper needs with an annual cathode copper production of 90 thousand tons.

Eti Bakır, which operates under Cengiz Holding, is spending 2026 on investments. The company, which is capable of production from ore to final product, has also increased capacity at its facility in Samsun in addition to its new production sites.

Production has started in Elazığ

The production site in the Maden district of Elazığ started production this month with an investment of approximately $800 million. The facility is planned to extract and process 1 million tons of run-of-mine ore annually. At the facility, which employs approximately 700 people, the pyrite remaining from production is planned to be sent to the Mazıdağı facility to recover metals such as cobalt and zinc. Capacity was also increased at the Samsun Smelting and Electrolysis Facility in order to process the concentrate copper coming from Elazığ. Thus, the annual cathode copper production capacity was raised from 70 thousand tons to 90 thousand tons.

Çanakkale and Sinop investments continue

The Halilağa Copper Mine in Çanakkale is planned to become operational at the end of the year. While a total investment of $600 million is envisaged for the project, the facility is targeted to extract 6 million tons of run-of-mine ore annually and provide employment to approximately 1,000 people during the operating period. An investment of approximately $600 million is also being carried out for the new production site in Boyabat, Sinop. The facility is planned to start production at the end of next year.

Çayeli and Anagold acquisitions

In 2026, Eti Bakır also brought Çayeli Bakır and Anagold Madencilik into the Cengiz Holding fold. The total cost of these two acquisitions was $1.8 billion. At Çayeli Bakır, ore that was previously exported as concentrate is targeted to be converted into high value-added cathode copper at the smelting facility in Samsun. Anagold Madencilik, meanwhile, continues its operations with a daily ore processing capacity of 6 thousand tons and provides direct employment to approximately 3 thousand people.

Support for archaeological excavations

In addition to its mining activities, Eti Bakır also carries out work through its support for archaeological excavations. The company provides support for excavations at Samsun İkiztepe, Elazığ Salkaya and the Çanakkale İnkaya Cave. While the finds uncovered in the İkiztepe excavations are displayed in the Bafra and Samsun museums, the work at İnkaya Cave reveals findings regarding the region's approximately 86-thousand-year-old history.