TR Economy & Updates

[Agha Sher]

https://twitter.com/i/web/status/1550859760324452352

A glass fiber factory was recently opened. The Factory will satisfy 60% of Turkey's domestic demand. Current demand is currently exclusively fulfilled by imports.

 

[I_Love_F16]

https://twitter.com/i/web/status/1551640141365665793

 

[Anastasius]

https://twitter.com/i/web/status/1551640141365665793

LMAO. You want to avoid Russia so you go to a Russian proxy. Whose own proxies are pulling false flags and attacks against your nation and troops.

 

[CAN_TR]

Within 10 years our economy shrinked by ~50%, our reserves melt down like ice in a hot summer day, youth unemployment rate above 20%, inflation so high that nobody really knows the real numbers, importing more refugees, educated people leaving the country and stupid foreign politics...

That guy went full nuts after 2012, he is destroying the country in order to safe himself.

 

[Lool]

Sadly, another massive facepalm to Erdogan from Putin
Putin and Russia kicked the Turks out of the Akkuyu nuclear project
Now it is completely Russian and no more expertise will be given to Turkish contractors and engineers while building the powerplant

https://twitter.com/i/web/status/1553375586172772352

 

[Baryshx]

First of all, içtaş is from the construction gang of the akp. I read the news that cracks occurred in the concretes and did not pour the concrete of the desired quality.

I guess they don't realize the seriousness and think they are building a house.

 

[I_Love_F16]

‘’China deeply afraid regarding the Turkish mineral discovery’’.

https://twitter.com/i/web/status/1553724727050600449

 

[Huelague]

Is the new trade deal between Türkiye and USA signed?

 

[Lool]

This isnt good at all
Turkey should stay away from China and the US; especially the Chinese; now that they have a serious competitor, they wanna hord all the resources for themselves, those shitty bastards and the same is for the US
Japan may be a good country to co-operate with as Turkey co-operated with the Japanese before in many projects

Although, I do wanna ask if Turkey has the means to use such resources to its maximum potential indiginously; i-e, does Turkey have the necessary infratsructure to extract and process such minerals alone? If so, then Turkey should go alone and profit from each cent of its own natural resources without sharing the profits with filthy China and US

@TheInsider @Yasar @Zafer @Cabatli_TR @CAN_TR et al......

https://twitter.com/i/web/status/1554775855821455360

Current economic model by the govt aims for Turkey to become the next China of Europe, Med East, Africa, Latin America and some Asian countries and this is something that neither China or the US will never allow

 

[Zafer]

This isnt good at all
Turkey should stay away from China and the US; especially the Chinese; now that they have a serious competitor, they wanna hord all the resources for themselves, those shitty bastards and the same is for the US
Japan may be a good country to co-operate with as Turkey co-operated with the Japanese before in many projects

Although, I do wanna ask if Turkey has the means to use such resources to its maximum potential indiginously; i-e, does Turkey have the necessary infratsructure to extract and process such minerals alone? If so, then Turkey should go alone and profit from each cent of its own natural resources without sharing the profits with filthy China and US

@TheInsider @Yasar @Zafer @Cabatli_TR @CAN_TR et al......

https://twitter.com/i/web/status/1554775855821455360

Current economic model by the govt aims for Turkey to become the next China of Europe, Med East, Africa, Latin America and some Asian countries and this is something that neither China or the US will never allow

I don't have first hand information but in general the situation is like this:

80+% of the world knowledge is kept in patent documents and patents only last 20 years. If anything is in those documents you can get that information and build anything you want once the patent is expired. So with literature study alone you can make the process of anything into fabrication without external technical help. However this can take a longer time than you hope and you would rather accept offers to shorten the time to money making position. I am not sure if our companies have or have not already developed the technology but we surely can. Somebody should come up with an offer including technology transfer and a short term like 20 years to make a good agreement for cooperation. If they do want really I would rather go with western companies instead of constraining the world supply chain further by partnering with China.

 

[Lool]

I don't have first hand information but in general the situation is like this:

80+% of the world knowledge is kept in patent documents and patents only last 20 years. If anything is in those documents you can get that information and build anything you want once the patent is expired. So with literature study alone you can make the process of anything into fabrication without external technical help. However this can take a longer time than you hope and you would rather accept offers to shorten the time to money making position. I am not sure if our companies have or have not already developed the technology but we surely can. Somebody should come up with an offer including technology transfer and a short term like 20 years to make a good agreement for cooperation. If they do want really I would rather go with western companies instead of constraining the world supply chain further by partnering with China.

So the question is, does Turkey has the necessary infrastructure to immediately begin processing of the rare minerals? I did hear that a Turkish company is tasked with extracting the minerals, but what about processing since selling the raw materials without processing will be the greatest foolish move

 

[BalkanTurk90]

This isnt good at all
Turkey should stay away from China and the US; especially the Chinese; now that they have a serious competitor, they wanna hord all the resources for themselves, those shitty bastards and the same is for the US
Japan may be a good country to co-operate with as Turkey co-operated with the Japanese before in many projects

Although, I do wanna ask if Turkey has the means to use such resources to its maximum potential indiginously; i-e, does Turkey have the necessary infratsructure to extract and process such minerals alone? If so, then Turkey should go alone and profit from each cent of its own natural resources without sharing the profits with filthy China and US

@TheInsider @Yasar @Zafer @Cabatli_TR @CAN_TR et al......

https://twitter.com/i/web/status/1554775855821455360

Current economic model by the govt aims for Turkey to become the next China of Europe, Med East, Africa, Latin America and some Asian countries and this is something that neither China or the US will never allow

I hope Turkiye dont work with other countries companies for those rare minerals thats how they milk other countries and became rich.

 

[Lool]

I hope Turkiye dont work with other countries companies for those rare minerals thats how they milk other countries and became rich.

I agree
But that is why Iam asking whether Turkey has the means to go at this alone or not

 

[Ripley]

‘’China deeply afraid regarding the Turkish mineral discovery’’.

https://twitter.com/i/web/status/1553724727050600449

I followed the link at the twit you posted and there was some site mentioning a name, Christopher Ecclestone. A little research on the internet and turns out
- the mentioned article is a reduced and lightly plagiarized piece from DW
- The twitter account based his “unsubstantiated and anonymous claims“ accusation toward jealous Chinese via this article, not the original news piece
- And the original piece is way much more informative and, honestly, raises some legitimate questions and gives solid opinions with references

Doubts over Turkey's rare earths find​

Nik Martin
07/27/2022July 27, 2022
Turkey has announced the world's second-largest deposit of critical metals needed to build electric cars and wind turbines. But is the grade good enough and can Ankara end China's dominance?

As Europe struggles to wean itself off Russian energy, another critical issue — the continent's almost total reliance on China for rare earths to power the clean energy transition — may have been solved by Turkey.

The Ankara government announced this month the discovery of a huge deposit of rare earth elements that when processed could be used to make electric vehicles, wind turbines and solar panels.

After drilling for more than a decade, Turkish geologists estimated that an area close to the northwestern city of Eskisehir has some 694 million tons of rare earth metals — second only to China's 800 million tons.

Rare earths aren't actually that scarce but they are attached to other metals, so refining them is a complicated process. The minerals often end up in magnets that have uses in commercial and military technology.

Turkey stays stumm over quality​

While Turkey believes its new deposit is enough to meet the world's needs for 1,000 years, a lack of clarity about the grade or quality of the metal elements has left many analysts scratching their heads.

"If they're claiming such a big deposit, they would done a lot of drilling and would know what the grade was," Christopher Ecclestone, a principal and mining strategist at the UK research house Hallgarten & Company, told DW. "So where's the detail?"

David Merriman, research director Rare Earths at global consultancy firm Wood Mackensie told DW that the Turkish deposit likely contains the rare earth elements lanthanum and serum which are "currently in a significant oversupply" and not the "rarest type in demand for use in high-performance magnets."

British geologist Kathryn Goodenough recently told Wired magazine that Turkey's deposit is likely to translate to around 14 million tons of rare earth oxides, less than a third of China's estimated resource.

China dominance risks EU, US security​

China currently supplies around four-fifths of the world's rare earth material and is responsible for around 98% of the European Union's imports of rare earth magnets — some 16,000 tons per year.

The largest operators in China's supply chain are state-owned and/or heavily subsidized, which keeps the costs of Asian-made magnets around a third lower than their European equivalents.

China's monopoly has raised concerns in Brussels, Berlin and Washington that rare earths could be used as leverage by Beijing in trade and geopolitical disputes. In 2010, China banned the export of the metals to Japan in a territorial row.

US Treasury Secretary Janet Yellen this week said Washington was keen to reduce its "undue dependence" on Chinese rare earths, accusing Beijing of using "coercion to pressure a number of countries whose behavior they have disapproved of."

Two years ago, the EU created the European Raw Materials Alliance to encourage member states to diversify sources of primary raw materials, including rare earth metals, from third countries. Efforts to strengthen regional supply chains are being stepped up in the wake of disruptions caused by the COVID-19 pandemic.

Turkey needs economic lift​

If the deposit is as valuable as Ankara claims, it would give Turkish President Recep Tayyip Erdogan further leverage over his NATO allies and help boost the ailing Turkish economy, which has limped from one currency crisis to another since 2018.

However, it is not the first time one of Erdogan's proclamations has been met with skepticism. Two years ago, Ankara announced a huge natural gas discovery in the Black Sea, which the Turkish leader said would reduce the country's huge energy import bill.

Analysts doubt whether the reserve, some 320 billion cubic meters (11.3 trillion cubic feet), will be as large as initially predicted, or whether the gas field will come online by 2023 as promised.

Such is the strategic importance to the West that many other potential rare earth projects have overhyped their potential in recent years to try to boost investor interest.

Eccelstone noted that during the last rare earth boom a decade ago "many of the big deposits discovered were too low grade, too isolated or the metallurgy was wrong and that's why they stayed in the ground."

Merriman said Wood Mackensie was currently tracking about 150 rare earth projects around the world which are at the mining stage. Out of those, 100 are at the refining stage.

"There is no shortage of rare earth projects," he told DW. "But those that are able to be developed commercially is a different story."

Europe currently has just one rare earth processing facility in Estonia and a very limited number of magnet makers, the largest of which is Germany's Vacuumschmelze.

The market is changing fast, however, and within a decade, China may not have the same stranglehold, Ecclestone predicted.

"China has already lost the advantage in heavy rare earths [which make up nearly half of the 17 rare earth metals], it now has to import those," he said.

Meanwhile, the country's biggest rare earth mine, Bayan Obo, in Inner Mongolia, may struggle to produce at today's level going forward.

Merriman said despite efforts by the US, UK and Australia to bolster their investments in rare earth materials, China's dominance would likely remain because it has sewn up the extraction, processing and manufacturing of rare earth products like magnets.

"If you look at the magnet elements, you need to turn the raw earths into metal, then into magnet alloys and then into finished magnets. There's a huge number of points in the supply chain that need to be supported along that route, and there's still very limited capacity outside of China," he told DW.

 

[I_Love_F16]

DW is known to be biased towards Turkiye.

 

[Ripley]

So the question is, does Turkey has the necessary infrastructure to immediately begin processing of the rare minerals? I did hear that a Turkish company is tasked with extracting the minerals, but what about processing since selling the raw materials without processing will be the greatest foolish move

A valid question but at this point “the” question (emphasize on “the”) is whether the elements are the rarest and even worth investing into.

 

[Mustafa27]

A valid question but at this point “the” question (emphasize on “the”) is whether the elements are the rarest and even worth investing into.

Why shouldn't it be worth investing, regardless if its light or heavy. It should be invested in.

 

[Ripley]

DW is known to be biased towards Turkiye.

Well my point was not to glorify the piece or even agree on it but just to clarify a false assumption based on a plagiarized “excerpt“.
Also, it was not my intention to show you in a bad light by digging up your post

 

[Zafer]

There is no doubt that that Black Sea gas is coming online starting in early 2023. All 17 rare earts are present in the find and their richness is obviously either unverified or is a state secret as of now.

 

[Ripley]

Why shouldn't it be worth investing, regardless if its light or heavy. It should be invested in.

“At this point” as in really, at this point we have news that they discovered something huge nearly on astronomical quantities and that’s all we know. Naturally, Here and there people, rightfully asking the same thing crossing my mind. Could it really be and if it is what is the breakdown like?
short version is it feasible at this point?

And yes I’m all for Turkish independence on every front but also just a small cynical individual ( ) who tends to hold his horses before seeing as many facts facts as possible and the track record of this government for the last two decades I’m afraid filled with examples of distorting the facts