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Turkish state-run mining company eyes $650 million in profit in 2011

09 March 2011 [12:56] - TODAY.AZ
Eti Maden, Turkey's largest state-run boron producer aims to receive $650 million in profit in 2011, the company's director general said.

"We are expecting 650 million U.S. dollars in profit this year from 440 million USD in 2010. Our profit projection for 2013 is one billion USD," Orhan Yilmaz told the Anadolu Agency.

Yilmaz said the company's made 60% of its total exports to the Far Eastern countries last year with China as the main buyer of Turkish boron products.

Yilmaz said Eti Maden ranked in 2009 the 11th most profitable company in Turkey, adding that it would place among the top five in 2010.

"We are targeting 5.4 tons of boron production, 2.5 billion USD turnover and 1.6 billion USD in profits for 2023, the centennial anniversary of the foundation of our Republic," Yilmaz said.


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