Speaking on March 28, Yunus Soysal, mining engineer with Turkey-based miner Dedeman Mining, stated that the Aladag area in Adana, Turkey, which supplies 25 percent of Turkey's total chrome production, may contain chrome reserves worth $100 billion, adding that Dedeman Mining has already found chrome reserves with an estimated value of $3 billion in the area in question, as reported by Turkish media sources.
Mr. Soysal said that chrome mining has been carried out in the Aladag area for 50 years. He continued by saying that, while there were three chrome mining projects in the area before 2006, another seven projects have been established after 2006 when a rise in metal prices was observed. He also noted that the annual value of chrome exports from Aladag has now reached $150 million, while the price of chrome has risen to $300/mt. He added that, if a ferrochrome mill were established in the area, the price of chrome could rise tenfold.
On the other hand, Soysal mentioned that investments in the Aladağ area are being delayed due to lack of energy and infrastructure in the region.