"Türkiye is set to cooperate on critical mines"

Alparslan Bayraktar participated in the 3rd Ministerial Roundtable Meeting of the Minerals Forum of the Future organized in Riyadh, the capital of Saudi Arabia. Pointing out that access to critical minerals and cost-effectiveness are important in energy transformation, Bayraktar mentioned that the Rare Earth Elements Research Institute was established to mobilize Türkiye's critical mining potential and that the world's second largest reserve of rare earth elements was discovered in Eskişehir.

Bayraktar informed that they aim to establish an industrial facility in Eskişehir that will process 570 thousand tons of rare earth elements annually.

"ACCESS TO CRITICAL MINES AND COST-EFFECTIVENESS IN THE ENERGY TRANSITION"

Alparslan Bayraktar stated, "We believe that a few things are needed for a successful energy transition. The first thing is to improve policy. The policies must be specific and on a continuous basis, not changing from one government to another. Also, we need to develop flexible and rational policies to create the right signals for industrial sectors and financial institutions and to attract capital to this field. We need to put forward a series of rules and regulations," he added, referring to the efforts of many countries and companies to minimize greenhouse gas emissions towards the "net zero" target.

Bayraktar indicated that the supply and investments in critical mines are not adequate to support the solar, wind and electric vehicle sectors, noting that access to critical minerals and cost-effectiveness are important in the energy transition. He pointed out that the world's three largest producers of rare metals such as cobalt and lithium dominate more than 3 out of 4 of global production.

The forum will feature more than 200 speakers from around the world engaging with attendees to discuss topics such as developing strategies, investment and setting sustainable standards in the sector.