Çayeli Bakır İşletmeleri

What Çayeli Bakır İşletmeleri does

Çayeli Bakır İşletmeleri AŞ is a Turkish underground metal mining company founded in 1983 that extracts copper and zinc ore at its single site in Madenli Beldesi, Çayeli, Rize, on the Black Sea coast. It is recognized as the pioneer of mechanized metal mining in Turkey, operating a continuous underground mine and an ore-processing plant that produced 49,800 tons of copper concentrate and 5,000 tons of zinc concentrate in 2025. The company also operates an in-house laboratory that sells analytical and certification services to external industrial and academic clients, and runs vocational mining training, internship, and community programs in the Rize region.

The business model is B2B commodity sales: copper and zinc concentrates are sold under multi-year contracts to domestic Turkish smelters and refineries and exported internationally to buyers in China, Bulgaria, and Norway, generating $106.9 million in export revenue in 2024. Revenue mechanics are driven by realized LME-linked concentrate prices, by-product credits (zinc), and contract terms with a limited set of industrial offtakers; secondary revenue comes from laboratory analysis services and from ancillary community programs that primarily support social license to operate rather than top-line growth. The company employs 466 people as of 2025, with 88.4% local hiring, and is consistently ranked among Turkey's top corporate taxpayers in Rize and recognized internationally for safety (RoSPA Gold 2026, British Safety Council Merit 2026) and sustainability (MAC Sustainable Mining Leadership 2016). In 2026 Çayeli Bakır was acquired by Cengiz Holding, a diversified Turkish conglomerate that operates 70,000 tons/year of cathode copper capacity and supplies approximately 20% of Turkey's domestic copper demand, positioning the mine within a vertically integrated industrial platform.

Name

Çayeli Bakır İşletmeleri

Legal name

Çayeli Bakır İşletmeleri AŞ

Website

https://cayelibakir.com

Company type

Private

Founded year

1983

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Çayeli Bakır İşletmeleri is a Turkish underground copper and zinc mining company producing smelter-grade concentrates from its Rize mine and exporting to industrial buyers in China, Bulgaria, and Norway. It is a Cengiz Holding subsidiary acquired in 2026.

Ownership category

akta.pro rank

Product category

Copper Mining & Concentrate Production

NAICS

Nonferrous Metal (except Aluminum) Production and Processing (3314)

SIC

Miscellaneous Metal Ores (1090)

akta.pro primary industry

Copper Pyrometallurgy (Smelting, Converting) (IMAKADAE)

Keywords

• Copper concentrate production
• Underground metal mining
• Zinc ore extraction
• Ore processing services
• Mining laboratory analysis

Headquarters

HQ city

Çayeli

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Copper and Zinc Concentrate Sales: Mining operations extracting copper and zinc ore from underground, processing at facilities to produce copper concentrate (49,800 tons in 2025) and zinc concentrate (5,000 tons in 2025). Products sold to smelters and refineries domestically and for export.
2. Laboratory Analysis Services: Comprehensive analysis services provided to external clients beyond internal production needs, covering various industrial and academic standards.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Çayeli Bakır İşletmeleri operates an underground mechanized metal mine and ore processing facility in Madenli, Çayeli, Rize, Turkey, extracting copper and zinc ore and producing smelter-ready copper and zinc concentrates. The company also provides laboratory and analysis services to external industrial and academic clients using capabilities developed over decades of in-house use. Operations have run continuously since 1994, with 49,800 tons of copper concentrate and 5,000 tons of zinc concentrate produced in 2025, supplying both domestic Turkish smelters and international export markets.

Product overview

Çayeli Bakır İşletmeleri operates as an underground metal mining company producing copper and zinc concentrates from ore extracted in Rize, Turkey. The company operates a mechanized metal mining facility and ore processing plant, producing export-grade copper and zinc concentrates. Beyond core mining and concentration operations, the company offers laboratory analysis services to external clients in the mining sector and academia. Supplementary services include vocational training programs and internship opportunities for local youth.

Differentiator

Problem solved

Functional benefit

Products and services

• Copper Concentrate Production

Quantifiable outcome

• 88.4% local employment rate (412 of 466 employees from local area)
• +5 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Cengiz HoldingflagshipStrategic or Co-development Partner · 1 January 2026Çayeli Bakır joined Cengiz Holding in 2026 as part of Cengiz Holding's mining, energy, construction, industry, tourism and services portfolio. Cengiz Holding leads Turkey's copper sector with 70,000 tons annual cathode copper production capacity and meets approximately 20% of Turkey's domestic copper demand.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Freeport-McMoRan: Major global copper miner (Grasberg, Morenci, Cerro Verde) with integrated concentrate and cathode production. A broad incumbent setting benchmark copper concentrate pricing relevant to Çayeli.
• Teck Resources: Canadian mining company historically focused on copper and zinc (now part of Glencore). Operates Red Dog (zinc) and Highland Valley Copper - comparable product mix to Çayeli's zinc and copper concentrates.
• Glencore: Diversified major with one of the world's largest base metals trading and processing businesses, including copper and zinc concentrate from underground mines. A broad incumbent that both competes with and buys from concentrate producers like Çayeli.
• Southern Copper: Major integrated copper producer (with copper concentrate + cathode output) and one of the largest global copper companies. Comparable copper-focused value chain at significantly larger scale.
• Antofagasta plc: Chilean copper mining group (Los Pelambres, Centinela) producing copper concentrate and cathode. Comparable copper-concentrate product and underground/open-pit mining exposure.
• KGHM Polska Miedź: Polish integrated copper producer with significant underground copper and copper/silver mining plus smelting and refining. Comparable copper mining base with broader smelting/refining integration that Çayeli lacks.

Direct peers

• Boliden AB: Swedish base metals producer operating multiple underground copper-zinc mines (Garpenberg, Tara) producing copper and zinc concentrates. Closely comparable business model, product mix, and customer base (smelters/refineries).
• Lundin Mining: Mid-tier base metals producer operating Neves-Corvo (Portugal) and Zinkgruvan (Sweden), both underground copper-zinc mines producing concentrates. Most direct global peer given the near-identical product mix (copper + zinc concentrates) and underground mining model.
• MMG Limited: Minerals and metals producer operating Dugald River (zinc) and Kinsevere (copper), with underground mining and concentrate production. Overlapping product mix and underground footprint make it a credible direct peer.
• Hudbay Minerals: Copper-focused miner producing copper concentrate (with zinc as a byproduct) from underground mines (Constancia, Snow Lake). Similar scale, product mix, and customer base to Çayeli.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@cayelibakr8066/videos
• LinkedInlinkedin.com/company/cayelibakirisletmeleri
• Instagraminstagram.com/cayelibakir/?igshid=OGQ5ZDc2ODk2ZA%3D%3D

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 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 Çayeli Bakır İşletmeleri