Eti Maden
From Wikipedia, the free encyclopedia
Eti Maden 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]
Native name | Eti Maden İşletmeleri Genel Müdürlüğü |
---|---|
Company type | Government-owned corporation |
Industry | Borate minerals mining and refining |
Founded | 1993 |
Headquarters | Etlik, Keçiören, Ankara, Turkey |
Website | http://en.etimaden.gov.tr/ |
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]
Its subsidiaries include AB Etiproducts OY, a Finland-based company which distributes Eti Mine Works products in Scandinavia, Eastern Europe, Russia, Central Asia, and Africa. Bandırma Borax owns one of the small coal-fired power stations in Turkey.[6]