Eti Bakır

Name

Eti Bakır

Legal name

Eti Bakır Anonim Şirketi

Website

https://etibakir.com.tr

Company type

Private

Founded year

1935

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

Copper Mining and Metallurgy

NAICS

Copper, Nickel, Lead, and Zinc Mining (212230), Nonferrous Metal (except Aluminum) Smelting and Refining (331410), Nonferrous Metal (except Aluminum) Production and Processing (3314)

SIC

Metal Mining (1000), Primary Smelting & Refining Of Nonferrous Metals (3330)

akta.pro primary industry

Copper Refining (Electrorefining & Fire Refining) (IMAKADAF)

akta.pro secondary industries

Copper Ore Mining (Open-Pit & Underground) (IMAKADAB), Copper Concentration (Crushing, Grinding, Flotation) (IMAKADAC), Copper Pyrometallurgy (Smelting, Converting) (IMAKADAE), Copper Anode/Cathode Production & Handling (IMAKADAG), Copper By-Products Recovery (Molybdenum, Gold/Silver, Sulfuric Acid) (IMAKADAH)

Keywords

• Copper cathode production
• Integrated mining operations
• Electrolytic copper refining
• Phosphate fertilizer manufacturing
• Cobalt metal recovery

Headquarters

HQ city

Küre

Offices11 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D

Revenue model

1. Copper Cathode Sales: Eti Bakır produces 70,000 tons of cathode copper per year at 99.99% purity at its Samsun Izabe ve Elektroliz Tesisi, meeting approximately 20% of Turkey's copper demand. Revenue is generated through direct B2B sales to domestic and international copper consumers and smelters. This is the company's primary revenue stream.
2. Copper Concentrate Sales: The company produces copper concentrate at multiple mines (Küre: 170,000 tons/year, Siirt: 90,000 tons/year, Adıyaman: 159,000 tons/year, Cerattepe: 82,000 tons/year concentrate equivalent, Murgul: 45,000 tons/year). Concentrates are sold domestically or processed internally.
3. Cobalt Sales: Mazıdağı Metal Geri Kazanım Tesisi produces 2,500 tons of cobalt annually — 2% of global production — from pyrite concentrate waste. Cobalt is exported as a raw material to Cengiz Holding's ICoNiChem facility in Widnes, UK for further processing into end products for global technology, battery, and aerospace industries.
4. Fertilizer Sales (Eti Gübre): Eti Bakır produces fertilizers (DAP, ammonium sulfate, NPK) at both Mazıdağı (400,000 tons/year DAP capacity) and Samsun (600,000 tons/year ammonium sulfate, plus new 450,000 ton DAP plant). The company is Turkey's only 100% domestic raw material fertilizer producer. Fertilizers are sold to Turkish farmers, reducing import dependency of ~$620 million annually. Total DAP capacity post-expansion reaches 850,000 tons/year.
5. Sulfuric Acid Sales: Sulfuric acid produced as a byproduct of the metallurgical process is used internally in leaching processes and sold externally. At Mazıdağı, sulfuric acid is produced from pyrite concentrate processing, and steam is recovered for energy.
6. Gold Sales (Tereksay): Tereksay İşletmesi in Kyrgyzstan processes 1,000,000 tons of ore per year, with 32 tons of metallic gold reserves. Revenue is generated from gold production and export. The operation employs 1,550 people and is Kyrgyzstan's fourth largest mine.
7. Antimony Concentrate Sales: Halıköy İşletmesi produces 1,100 tons of antimony concentrate per year. Antimony is used in defense industry, flame retardants, glass, ceramics, and brake pad production.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

Eti Bakır is Turkey's only integrated copper producer, extracting copper ore from 8 domestic mines and processing it through crushing/grinding, flotation concentration, smelting, and electrolytic refining into 99.99% purity cathode copper at its Samsun facility. Beyond copper, the company produces copper concentrate, cobalt (recovered from pyrite concentrate at Mazıdağı), phosphate and compound fertilizers (DAP, NPK, ammonium sulfate), gold (Tereksay, Kyrgyzstan), antimony concentrate, pyrite concentrate, and grinding balls, supported by its own port facilities at Samsun and İnebolu.

Product overview

Eti Bakır is Turkey's only integrated copper producer, operating a platform-plus-modules production architecture spanning the full mining-to-product value chain. The core platform consists of copper ore extraction and processing across 8 domestic facilities plus 1 international operation (Tereksay, Kyrgyzstan). The primary finished product is 99.99% purity cathode copper (70,000 tonnes/year), complemented by copper concentrate, cobalt (2,500 tonnes/year, representing 2% of global production), fertilizers (DAP, NPK, ammonium sulfate totaling 850,000+ tonnes/year capacity), antimony concentrate, gold, and grinding balls. Facilities include: Samsun Izabe ve Elektroliz Tesisi (smelting and electrolytic refining, fertilizer production), Küre İşletmesi (deepest underground copper mine, pyrite concentrate), Mazıdağı Metal Geri Kazanım ve Entegre Gübre Tesisleri (metal recovery, cobalt, DAP fertilizer), Adıyaman, Murgul, Cerattepe, Halıköy, Siirt operations, and Tereksay in Kyrgyzstan. The Bilye Üretim Tesisi at Samsun produces grinding media for mining operations. Integrated port facilities at Samsun and İnebolu support logistics.

Differentiator

Problem solved

Functional benefit

Products and services

• Katot Bakır (Cathode Copper) Electrolytically refined copper cathode at 99.99% purity produced at the Samsun İzabe ve Elektroliz Tesisi. Eti Bakır produces 70,000–80,000 tons/year, supplying Turkish copper consumers and smelters and meeting approximately 20% of Turkey's copper demand.
• Bakır Konsantresi (Copper Concentrate) Enriched copper ore produced via flotation at multiple facilities (Küre: 170,000 t/y; Adıyaman: 159,000 t/y; Siirt: 90,000 t/y; Cerattepe: 82,000 t/y; Murgul: 45,000 t/y). Sold domestically or processed internally at the Samsun smelter as feedstock for cathode copper.
• Kobalt (Cobalt) Cobalt recovered from pyrite concentrate at the Mazıdağı Metal Geri Kazanım ve Entegre Gübre Tesisleri. Production of 2,500 tons/year, representing ~2% of global cobalt production, exported primarily to Cengiz Holding's ICoNiChem facility in Widnes, UK for further processing into end products for battery, EV, catalyst, and aerospace industries.
• DAP Gübre (DAP Fertilizer) Diamonium phosphate (DAP) fertilizer produced at the Mazıdağı facility (400,000 t/y capacity) and the new Samsun fertilizer plant (450,000 t/y capacity), using 100% domestic raw materials. Total post-expansion DAP capacity reaches 850,000 tons/year, marketed under the Eti Gübre brand.
• Amonyum Sülfat Gübresi (Ammonium Sulfate Fertilizer) Agricultural ammonium sulfate fertilizer produced from sulfuric acid generated in the copper production process at the Samsun İzabe ve Elektroliz Tesisi. Annual capacity of 600,000 tons. Eti Bakır is Turkey's first CE-certified ammonium sulfate producer.
• NPK Kompoze Gübre (NPK Compound Fertilizer)

Quantifiable outcome

• Meets ~20% of Turkey's copper demand with 70,000–80,000 tons/year cathode copper production
• +8 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

One partnership is on record.

• Kırgız Altın A.Ş.coreStrategic or Co-development Partner · 1 January 2022Kırgız Altın A.Ş. holds a 25% stake in the Tereksay İşletmesi operation in Kyrgyzstan. This is a joint venture partnership for the Tereksay gold mine, which is the first Turkish mining investment in Central Asia and Kyrgyzstan's fourth largest mine. The operation has 32 tons of metallic gold reserves and employs approximately 1,550 people, predominantly Kyrgyz citizens. Investment: $300 million. The partnership enables Eti Bakır to operate internationally while partnering with a local Kyrgyz entity.

Scale indicators20 records

Recent moves12 records

Expansion highlights6 records

Direct peers

• Aurubis AG: Europe's largest integrated copper smelter and refiner, producing copper cathodes and a wide range of nonferrous metal products from primary and secondary feedstocks. Closely comparable to Eti Bakır in operating an integrated smelting/refining platform with multi-metal by-product recovery (precious metals, sulfuric acid).
• First Quantum Minerals Ltd. Global copper miner operating Çayeli Bakır İşletmeleri in Rize, Turkey, alongside large copper mines in Zambia, Panama, and elsewhere. Directly comparable to Eti Bakır in producing copper concentrate from a Turkish underground copper mine and operating as a B2B raw material supplier into global smelter/refinery markets.
• Boliden AB: Swedish mining and smelting company producing copper, zinc, lead, and nickel from owned mines with integrated smelters. Comparable to Eti Bakır in combining mine-to-metal integration, multi-metal by-product recovery, and a strong sustainability/circular-economy focus across Nordic-style operations.
• KGHM Polska Miedź S.A. Poland's state-linked integrated copper miner and refiner, operating underground mines, concentrators, smelters, and an electrolytic refinery producing cathode copper plus silver, gold, and other by-products. Comparable to Eti Bakır in being a large integrated copper platform that converts ore into refined cathode, with similar ESG and capital-intensity profiles.

Broad incumbents

• Glencore plc: Diversified global mining and trading major with a large copper mining and smelting business alongside zinc, nickel, cobalt, and precious metals. Comparable to Eti Bakır in scope of multi-commodity production (copper, cobalt, gold) and global B2B raw material marketing, but at vastly larger scale and with trading optionality.
• Freeport-McMoRan Inc. One of the world's largest publicly listed copper miners, with integrated mining, concentrating, and smelting operations producing copper cathode, concentrate, gold, and molybdenum. Comparable to Eti Bakır in integrated copper value chain, large-scale open-pit and underground mining, and significant by-product (gold, molybdenum) revenue.
• Jiangxi Copper Corporation: One of China's largest integrated copper producers operating mines, concentrators, smelters, and refining facilities producing copper cathode and by-products including gold, silver, and sulfuric acid. Comparable to Eti Bakır in running a full mine-to-cathode platform with by-product recovery and sulfuric acid generation.

Others

• Cengiz Holding: Eti Bakır's parent conglomerate, active in construction, energy, mining, and infrastructure, and owner of ICoNiChem — the UK-based downstream cobalt processor that takes Eti Bakır's Mazıdağı cobalt. Relevant as the controlling shareholder and intra-group counterparty shaping Eti Bakır's strategy, capital, and customer base.

Emerging players

• Hindalco Industries Limited (Aditya Birla Group): Indian integrated non-ferrous metals major with copper mining, smelting, and refining plus downstream rolled products, alongside aluminum. Comparable to Eti Bakır in producing copper cathode from captive and purchased feedstocks and in operating as a large domestic raw material supplier within a conglomerate (Aditya Birla) structure.

Regional players

• Çayeli Bakır İşletmeleri A.Ş. (First Quantum subsidiary): Underground copper-zinc mine in Rize, Turkey, producing copper and zinc concentrate, operated by First Quantum Minerals. The only other major Turkish primary copper producer and a direct domestic peer of Eti Bakır's Küre, Murgul, Adıyaman, Siirt, and Cerattepe operations in the same Turkish mining landscape.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/etibakir
• Facebookfacebook.com/EtiBakirTurkiye
• LinkedInlinkedin.com/company/etibak%C4%B1r
• Instagraminstagram.com/etibakirtr

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Eti Bakır