Eti Mine Works

Eti Mine Works
Native name
 Eti Maden İşletmeleri
Government-owned corporation
Industry Borate minerals mining and refining
Founded 1993
Headquarters Etlik, Keçiören, Ankara, Turkey
Website http://en.etimaden.gov.tr/

Eti Mine Works (Turkish: Eti Maden İşletmeleri) is a Turkish state-owned mining and chemicals company focusing on boron products. It holds a government monopoly on the mining of borate minerals in Turkey, which possesses 72% of the world's known deposits.[1] In 2012, it held a 47% share of global production of borate minerals, ahead of its main competitor, Rio Tinto Group, which held 23%.[2]

In 2012, it was the forty-first largest industrial company in Turkey, with an annual revenue of $850 million.[3][4]

It was founded in 1935 as Etibank, a bank created to finance Turkish natural resource extraction; in 1993, the company's banking activities were privatized and its mining activities separated under the name Eti Holding A.Ş. In 2004, the company was restructured again and named Eti Mine Works.[5]

It subsidiaries include AB Etiproducts OY, a Finland-based company which distributes Eti Mine Works products in Scandinavia, Eastern Europe, Russia, Central Asia, and Africa.

AB Etiproducts OY

In 1982, AB Etiproducts Oy was established by Finnish mining multimetal Outokumpu group and Etibank. In 1993 Outokumpu's share was transferred to Etimine SA, sister company of AB Etiproducts Oy, responsible for the marketing of Turkish boron products in western Europe.[6] In 2005, AB Etiproducts Oy established a subsidiary company Etiproducts Llc, in Russia.[7]

The company presently operates in Scandinavia (Finland, Sweden, Denmark, Iceland and Norway), the Baltic states (Estonia, Latvia, Lithuania), Poland, Russia, Kazakhstan and other CIS countries.[8]

Stock is located in the Baltic and Black Sea Region regions. The subsidiary company Etiproducts Llc has stockplace in Azov, Russia. AB Etiproducts Oy controls international sales and distribution of boron products in Finland, Sweden, Iceland, Norway, Poland, Latvia, Lithuania, Russia, Estonia, Kazakhstan and other CIS countries.

Products

Boron minerals and refined products include:[9]

Colemanite

Concentrated boron products include:

References

  1. ↑ Şebnem Önder; Ayşe Eda Biçer; Işıl Selen Denemeç (September 2013). "Are certain minerals still under state monopoly?" (PDF). Mining Turkey. Retrieved 21 December 2013.
  2. ↑ "Turkey as the global leader in boron export and production" (PDF). European Association of Service Providers for Persons with Disabilities Annual Conference 2013. Retrieved 18 December 2013.
  3. ↑ Aydin Albayrak (21 January 2013). "Top Eti Maden official: Boron represents not only cash but also potential". Today's Zaman. Retrieved 18 December 2013.
  4. ↑ "Turkey's top 500 industrial enterprises: 2012". Istanbul Chamber of Industry. Retrieved 18 December 2013.
  5. ↑ Eti Mine Works, About Eti Maden
  6. ↑ http://www.etimine.com/
  7. ↑ http://www.etiproducts.com/about-us-1s.htm
  8. ↑ "Eti Mine Works General Directorate Annual Report 2011" (Press release). Eti Maden G.M. Corporation. 1 February 2012.
  9. ↑ http://www.etimaden.gov.tr/urunler-10k.htm
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