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Oyak invested 550 million dollars in pelletizing plant

Construction work has begun on the pelletizing plant to be realized by Ermaden, Türkiye's largest iron ore producer, with an investment of 550 million dollars. OYAK General Manager Süleyman Savaş Erdem said that they carried out the largest drilling work in the history of the Republic in the region.

Oyak invested 550 million dollars in pelletizing plant

OYAK, one of the Mining Metallurgy Companies of Ermaden, starts construction activities in the pelletizing investment to be established with an investment of approximately 550 million dollars in the iron ore mine site located in Bingöl-Avnik.

Ermaden, one of Türkiye's leading iron ore producers, is launching an important investment move regarding the pelletizing plant to be realized in Bingöl-Avnik. This facility will meet a large part of the raw material needs of Erdemir, an important part of OYAK Group, from national and domestic resources.

OYAK General Manager Süleyman Savaş Erdem, while evaluating the studies and drilling activities carried out on the iron ore potential in the region, emphasizes that there are sufficient iron ore reserves for 30-35 years. As a result of Ermaden's intensive reserve exploration and development activities, a magnetite iron ore potential of around 250 million tons has been identified.

It is stated that this investment will enable Erdemir to take an important step in backward integration by reducing its foreign dependency. In addition, with the completion of the facility, which will also make a strong contribution to employment in the region, approximately one thousand people will be offered employment opportunities. With the commissioning of the Bingöl Avnik Pelletizing Plant, Türkiye's self-sufficiency rate in pellet production is expected to increase significantly.

This investment will also increase the security of raw material supply in the steel industry, reduce the use of imported pellets and contribute to the domestic economy. It will also build resilience against challenges in the industry such as trade quotas, emissions trading systems and supply chain disruptions. This facility will also contribute to the sustainability of OYAK Group by increasing its competitiveness and will be an important milestone for the sector.

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