What zenit madencilik does

Zenit Madencilik Sanayi ve Ticaret A.Ş. is a privately held Turkish mining company founded in 2010 through a partnership between Proje-A İnşaat Ltd. Şti. and Galata Madencilik Ltd. Şti. (a subsidiary of UK-listed Ariana Resources PLC), with Özaltın Holding joining as majority shareholder (53%) in 2021. The company operates the Sındırgı-Kızıltepe Gold and Silver Mine in Balıkesir province, which has been in production since April 2017 with an ore processing capacity of 510,000 tons per year using open-pit mining and tank leaching (CIL/CIP) technology.

The company's core product is gold and silver doré bars, which are sent to external refineries for separation into 99.9% purity bullions and then sold through the Istanbul Precious Metals Exchange (İKMB) under priority purchase rights granted to the Central Bank of Turkey (TC Merkez Bankası). Zenit also operates an on-site analytical laboratory accredited to TS EN ISO/IEC 17025:2017 standards, providing internal and external testing services. The company is expanding its project portfolio with the Kütahya/Tavşanlı Gold-Silver Mine (currently under construction using heap leaching) and the Bilecik/Pazaryeri exploration project, with a 2026 partnership with Turk Altın for additional ore processing capacity in Balıkesir.

Zenit generates revenue through a B2B commodity sales model with pricing determined by prevailing market prices on the İKMB, targeting institutional buyers in the precious metals supply chain rather than retail consumers. Its go-to-market is direct enterprise sales to refineries and exchanges, with regulatory compliance (ÇED environmental permits, Seveso industrial safety, ISO 17025, ISO 50001 energy management) forming a key operational pillar alongside community relations in its host regions of western Anatolia.

Name

zenit madencilik

Legal name

Zenit Madencilik Sanayi ve Ticaret A.Ş.

Website

https://zenitmadencilik.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

251–500 employees

Short description

Zenit Madencilik is a privately held Turkish gold and silver producer operating the Kızıltepe open-pit mine in Balıkesir, processing 510,000 tons of ore per year via tank leaching into doré bars sold through the Istanbul Precious Metals Exchange to domestic refineries and the Central Bank of Turkey.

Ownership category

akta.pro rank

Product category

Gold and Silver Mining

SIC

Gold And Silver Ores (1040)

akta.pro primary industry

Precious Metals Smelting & Refining (IMAKAEAE)

Keywords

• Gold mining production
• Silver doré bars
• Precious metals extraction
• Open-pit mining
• Tank leaching processing

Headquarters

HQ city

Ankara

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Gold and Silver Doré Bar Sales: Production and sale of gold-silver doré bars produced through open-pit mining and tank leaching processing. Doré bars are sent to refineries for separation into 99.9% purity gold and silver bullions, which are then sold on the Istanbul Precious Metals Exchange (İKMB) with priority to TC Merkez Bankası.
2. Laboratory Analysis Services: Accredited laboratory providing analysis services to external customers, operating under TS EN ISO/IEC 17025:2017 quality management system standards.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Zenit Madencilik is a Turkish mining company that extracts and processes gold and silver ore from open-pit mines, producing gold-silver doré bars through tank leaching (CIL/CIP) processing. The company's active Kızıltepe mine has an annual ore processing capacity of 510,000 tons, with doré bars sent to refineries for separation into 99.9% purity gold and silver bullions sold on the Istanbul Precious Metals Exchange. Two additional projects (Tavşanlı and Pazaryeri) are in development and exploration stages, and the company operates an ISO/IEC 17025 accredited analysis laboratory.

Product overview

Zenit Madencilik operates three mining projects in Turkey: the active Sındırgı/Kızıltepe Gold-Silver Mine using tank leaching (CIL/CIP) to process ore and produce doré bars; the Kütahya/Tavşanlı Gold-Silver Mine project under development with heap leaching process; and the Bilecik/Pazaryeri exploration project. The company also operates an ISO/IEC 17025 accredited analysis laboratory at its Kızıltepe facility. Products include gold and silver doré bars refined to 99.9% purity and sold through the Istanbul Precious Metals Exchange.

Differentiator

Problem solved

Functional benefit

Products and services

• Sındırgı/Kızıltepe Altın-Gümüş Madeni (Kızıltepe Gold and Silver Mine) Active open-pit gold and silver mine in Balıkesir province producing gold-silver doré bars through tank leaching (CIL/CIP) processing at 510,000 tons/year ore capacity. Doré is refined externally to 99.9% purity and sold on the İstanbul Precious Metals Exchange. Target customers are gold refineries, the İKMB exchange, and the Central Bank of Turkey.
• Kütahya/Tavşanlı Altın-Gümüş Madeni (Tavşanlı Gold and Silver Mine) Gold and silver mine project in Kütahya province currently under construction, using heap leaching processing. Permitting has been completed and construction investments are underway across a 717.57-hectare EIA area. Once operational, it will add doré production capacity for sale to refineries and the İKMB.
• Bilecik/Pazaryeri Projesi (Pazaryeri Project) Exploration and reserve development project in Bilecik province covering 994.95 hectares under license 202001342. Currently in the exploration phase with no production yet. Once developed, it is intended to produce gold and silver doré bars for the same refinery and exchange off-takers.
• Zenit Analiz Laboratuvarı (Zenit Analysis Laboratory) On-site accredited analytical laboratory at the Kızıltepe mine site providing testing and calibration services for ore and mineral samples under TS EN ISO/IEC 17025:2017. Used internally for process control and offered to external mining-sector customers requiring accredited analysis.
• Altın ve Gümüş Üretimi (Gold and Silver Production) Production of gold-silver doré bars (gold-silver alloy) from the Kızıltepe mine using tank leaching, refined externally to 99.9% purity gold and silver bullions, and sold through the İstanbul Precious Metals Exchange with priority purchase rights to the Central Bank of Turkey.

Quantifiable outcome

• Ore processing capacity: 510,000 tons per year
• +2 more outcomes

Named customers2 records

Segments1 record

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• Turk AltıncoreStrategic or Co-development Partner · 25 June 2026Turk Altın reached a deal with Zenit Madencilik for an ore processing facility located in Balıkesir, Turkey. This partnership involves processing facilities for the gold and silver mine operations.
• Proje-A İnşaat Ltd. ŞticoreStrategic or Co-development Partner · 1 January 2010Co-founding partner of Zenit Madencilik in 2010 alongside Galata Madencilik. Holds 23.5% ownership stake. Contributed construction and project development expertise.
• Galata Madencilik Ltd. Şti (Ariana Resources PLC subsidiary)coreStrategic or Co-development Partner · 1 January 2010Co-founding partner of Zenit Madencilik in 2010 alongside Proje-A İnşaat. Holds 23.5% ownership stake. Subsidiary of Ariana Resources PLC, providing mining sector expertise.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Lidya Madencilik: Turkish mining company with gold and polymetallic projects in western Turkey, including heap-leach operations. Similar geographic footprint and processing approach as Zenit's Tavşan project.
• Eldorado Gold Corporation: Canadian intermediate gold producer that operates the Kışladağ open-pit gold mine in Uşak, Turkey. Direct country and process overlap, producing doré for refining and selling into both domestic and international markets.
• Tümad Madencilik Sanayi ve Ticaret A.Ş. Turkish mining company developing and operating gold and base-metal projects in western Anatolia. Comparable as a domestically focused mid-tier Turkish miner with overlapping license areas and similar regulatory environment.
• Koza Altın İşletmeleri: Turkey's largest domestic gold producer, operating multiple open-pit gold mines and processing plants with similar CIL-based doré output sold into the Turkish market. Most directly comparable Turkish peer in scale, technology and customer base.
• Anagold Madencilik: Operates the Çöpler gold mine in eastern Anatolia as part of Çalık Holding's mining arm. Turkish gold producer using similar open-pit mining and processing techniques with domestic doré output.

Broad incumbents

• Newmont Corporation: World's largest gold mining company with global open-pit operations and CIL/CIP processing expertise. Not a direct competitor but benchmark for technology, cost discipline and ESG practices relevant to mid-tier Turkish producers.
• SSR Mining Inc. Intermediate precious-metals producer with multiple open-pit operations producing doré and gold concentrate. Useful benchmark for capital intensity, processing costs and doré-margin economics at similar scale.
• Alamos Gold Inc. Intermediate gold producer with multiple open-pit and underground operations using conventional milling/CIL. Relevant comparable for capital intensity, doré output and multi-asset growth strategies.
• Centerra Gold Inc. Canadian intermediate gold miner with operations across North America, Turkey-adjacent geographies and Asia. Comparable mid-cap multi-asset producer model and gold-price leverage profile.

Others

• Ariana Resources plc: AIM-listed exploration and development company focused on gold and copper in Turkey; parent of co-founder Galata Madencilik (23.5% shareholder of Zenit). Closely linked via shared ownership, comparable project pipeline but earlier-stage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@yasamvemaden
• Xx.com/zenitmadencilik

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

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 →

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