What Koza Altin Islemeleri A S does

Türk Altın İşletmeleri A.Ş. (referenced in source data under the related name Koza Altın İşletmeleri A.Ş.) is Turkey's first and leading domestically-owned gold mining company, operating a portfolio of six active gold mines across multiple Turkish provinces. Founded in 1989 and operational since 2001 with the launch of the Ovacık mine—Turkey's first gold mine—the company is wholly owned by the Türkiye Varlık Fonu (Turkey Sovereign Wealth Fund) and is publicly listed on Borsa Istanbul (BIST). Headquartered in Ankara's Batıkent district, the company employs 1,001–5,000 people across its mining, processing, exploration, and corporate functions.

The operating portfolio comprises six active mines—Ovacık (İzmir, 2001), Çukuralan (largest production source, 2010), Mastra (Gümüşhane, 2007/2008, open-pit and underground), Himmetdede (Kırşehir, 2015, the company's first heap-leach operation), Kaymaz (Eskişehir, 2011), and Mollakara (Ağrı, 2025)—alongside three exploration projects (Karapınar, Gelintepe, Kubaşlar) and an in-house analysis laboratory. Mining methods combine open-pit and underground extraction with heap-leach processing for gold recovery. The company holds ISO 9001 (quality), ISO 14001 (environmental), ISO 45001 (occupational health and safety), and ISO 50001 (energy) certifications across all sites, and publishes TSRS-compliant sustainability reports.

Revenue is generated through the extraction, processing, and sale of gold doré bars, refined gold, and silver by-product to commodity markets, central banks, commercial banks, commodity traders, and precious metals refineries at LBMA benchmark prices. The go-to-market motion is institutional enterprise sales rather than consumer-facing distribution, supported by a BIST public listing and state-channel partnerships through Türkiye Varlık Fonu. The company maintains a website chatbot ("Goldy") for general visitor inquiries and a dedicated investor relations program; KAP (Public Disclosure Platform) filings handle regulatory disclosures. In January 2026, the company entered its first major international partnership with Azer Gold, the Azerbaijan state-owned gold company, signaling an international expansion phase.

Name

Koza Altin Islemeleri A S

Legal name

Türk Altın İşletmeleri A.Ş.

Website

https://kozaaltin.com.tr

Company type

Public

Founded year

2001

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Türk Altın İşletmeleri A.Ş. is Turkey's first and largest domestically-owned gold mining company, operating six active gold mines. Wholly owned by Türkiye Varlık Fonu (Turkey Wealth Fund), it produces gold and silver doré sold to commodity markets and financial institutions at LBMA benchmark prices.

Ownership category

akta.pro rank

Product category

Gold Mining

NAICS

Gold Ore and Silver Ore Mining (21222)

SIC

Gold And Silver Ores (1040)

akta.pro primary industry

Gold Mining (IMAKAEAA)

akta.pro secondary industries

Silver Mining (IMAKAEAB), Precious Metals Bullion & Concentrates Trading (Gold, Silver, PGM) (IMAKAJAD)

Keywords

• Gold mining operations
• Precious metals production
• Heap leaching extraction
• Mineral exploration services
• Sustainable resource extraction

Headquarters

HQ city

Ankara

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Gold Mining and Production: Türk Altın İşletmeleri generates revenue through the extraction, processing, and sale of gold and other precious metals (silver). The company operates six active gold mines across Turkey and sells gold dore bars and refined gold to commodity markets and financial institutions. As a primary gold producer, revenue is directly linked to global gold prices and production volumes.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Koza Altin Islemeleri A.S. extracts, processes, and sells gold and silver/precious metals from six active gold mines across Turkey (Ovacık, Çukuralan, Mastra, Himmetdede, Kaymaz, and Mollakara). It produces gold doré bars and refined gold, sells to commodity markets, central banks, financial institutions, and refineries at LBMA benchmark prices, and operates an in-house analysis laboratory plus three exploration projects. The company is publicly listed on BIST and wholly owned by the Türkiye Varlık Fonu (Turkey Wealth Fund).

Product overview

Turk Altın Isletmeleri A.S. is Turkey's first and leading gold mining company operating a portfolio of six active mines. The company operates a multi-site mining portfolio including Ovacık (Turkey's first gold mine, established 2001), Çukuralan (largest production source), Mastra, Himmetdede (first heap leaching operation), Kaymaz, and Mollakara (newest, 2025). Supporting operations include an analysis laboratory and exploration projects (Karapınar, Gelintepe, Kubaşlar). Core services encompass gold mining, silver and precious metal production, and exploration operations. The company utilizes modern mining technology and heap leaching methods while maintaining international environmental and safety standards.

Differentiator

Problem solved

Functional benefit

Products and services

• Ovacık Gold Mine (Ovacık Altın Madeni) Turkey's first gold mine, located between Bergama and Dikili districts in İzmir Province; operational since 2001 and operated by Koza Altin Islemeleri A.S. The mine extracts and processes gold ore for sale as gold doré bars and refined gold to commodity markets and financial institutions.
• Çukuralan Gold Mine (Çukuralan Altın Madeni) The largest gold production source for the company, discovered by the company's own exploration team and in production since 2010; located in Turkey and operated by Koza Altin Islemeleri A.S. to produce gold doré bars and refined gold.
• Mastra Gold Mine (Mastra Altın Madeni) Operates using both open-pit and underground mining methods; the first gold pour was completed in March 2009. Run by Koza Altin Islemeleri A.S. to produce gold doré bars and refined gold from a combined open-pit/underground operation.
• Himmetdede Gold Mine (Himmetdede Altın Madeni) Developed entirely by company personnel from exploration through production; the company's first operation using heap leaching (Yığın Liçi) technology for gold recovery. Run by Koza Altin Islemeleri A.S. to produce gold doré bars and refined gold.
• Kaymaz Gold Mine (Kaymaz Altın Madeni) Listvenite-type gold mine in Turkey, operated by Koza Altin Islemeleri A.S. with ore mineralization as siliceous serpentine veins; operations commenced after construction was completed in late 2011. Produces gold doré bars and refined gold.
• Mollakara Gold Mine (Mollakara Altın Madeni) The newest active gold mine, located near Mollakara village in Ağrı Province, Diyadin district. Uses open-pit mining with crushing and screening followed by heap leaching for gold recovery; production began in 2025. Operated by Koza Altin Islemeleri A.S.
• Analysis Laboratory (Analiz Laboratuvarı) Company-operated analysis laboratory that supports Koza Altin Islemeleri A.S. mining operations with ore testing, sample analysis, and quality control across all mine sites.
• Karapınar Exploration Project (Karapınar Projesi) Gold exploration and development project in the company's project portfolio; managed by Koza Altin Islemeleri A.S. as part of its pipeline for future gold production.
• Gelintepe Exploration Project (Gelintepe Projesi) Gold exploration and development project in the company's project portfolio; managed by Koza Altin Islemeleri A.S. as part of its pipeline for future gold production.
• Kubaşlar Exploration Project (Kubaşlar Projesi) Gold exploration and development project in the company's project portfolio; managed by Koza Altin Islemeleri A.S. as part of its pipeline for future gold production.
• Kaşköy Open Pit Operation (Kaşköy Açık Ocak İşletmesi) Open-pit mining operation listed under Koza Altin Islemeleri A.S.'s active operational mines for gold ore extraction and processing.
• Silver and Precious Metal Production (Gümüş ve Değerli Maden Üretimi) Extraction, enrichment, and refining of silver and other precious metals, performed by Koza Altin Islemeleri A.S. alongside its gold mining operations and sold to commodity buyers and refineries.

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature3 records

Partnerships

One partnership is on record.

• Azer Gold (Azerbaycan Devlet İştiraki)flagshipStrategic or Co-development Partner · 1 January 2026Türk Altın İşletmeleri and Azer Gold (the Azerbaijan state-owned gold company under the State Oil Fund of the Republic of Azerbaijan) entered into a strategic partnership to collaborate internationally in the gold mining sector. This partnership aims to leverage the strengths of both companies — Türk Altın's 20+ years of domestic gold mining expertise and Azer Gold's Azerbaijani state resources — to expand into international gold markets. The collaboration was announced in January 2026 and represents the first major international expansion initiative for Türk Altın under the Turkey Wealth Fund.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Kinross Gold: Kinross Gold is a mid-major gold producer with multi-mine operations. Comparable to Türk Altın as a primary gold producer using open-pit and underground methods, though with broader geographic reach.
• Newmont Corporation: Newmont is the world's largest gold mining company, producing gold doré and refined gold across multiple continents. Comparable to Türk Altın in primary product (gold) and operating model, though at vastly greater scale and global geographic diversification.
• AngloGold Ashanti: AngloGold Ashanti is a global gold mining major producing gold doré from multiple operations. Directly comparable to Türk Altın in primary product and mining methodology, with broader geographic footprint.
• Barrick Gold: Barrick Gold is one of the world's largest gold producers with a multi-mine portfolio. Comparable to Türk Altın as a primary gold producer operating multiple mines, though with global scale and broader diversification.
• Agnico Eagle Mines: Agnico Eagle is a senior gold producer with a multi-mine portfolio. Comparable to Türk Altın in product offering (gold doré) and asset-based business model, with stronger geographic diversification and larger scale.

Direct peers

• Alamos Gold: Alamos Gold operates the Çöpler mine and previously the Kirazlı project in Turkey. It is a directly comparable mid-tier gold producer with active Turkish operations, making it a peer in both geography and product offering.
• Eldorado Gold: Eldorado Gold is one of the largest foreign gold producers operating in Turkey (via former Tüprag assets). Directly comparable to Türk Altın as a multi-asset gold mining operator in Turkey with similar mining methods and end markets.

Emerging players

• Centerra Gold: Centerra Gold is a mid-tier gold producer with operations in Canada, Kyrgyzstan, and Türkiye (Mount Milligan, Öksüt, Kumtor). Directly relevant peer given its Türkiye operating presence (Öksüt mine) and comparable mine-portfolio model.
• IAMGOLD: IAMGOLD is a mid-tier gold producer with multiple operating mines. Comparable to Türk Altın as a primary gold mining operator with a portfolio approach, but with smaller scale and emerging-market operating focus.

Regional players

• Polyus (PJSC Polyus Gold): Polyus is the largest gold producer in Russia and one of the largest globally. Comparable to Türk Altın in primary product and mining methods, but operating in a different geography (Russia/CIS) with sovereign backing (similar to Türk Altın's sovereign wealth fund ownership).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 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 Koza Altin Islemeleri A S