Turkey reports major gold discovery

ISTANBUL: Turkey has discovered a major gold deposit holding an estimated 3.5 million ounces (99 tonnes) of the precious metal valued at around $6 billion, the Anadolu state news agency reported Tuesday.

The find in the midwestern town of Sogut was reported by Fahrettin Poyraz, who heads the Agricultural Credit Cooperatives of Turkey and the Gubretas fertiliser production firm.

"We are talking about a value close to six billion dollars," Poyraz told Anadolu.

"Within two years, we will extract the first gold and bring value to the Turkish economy."

Gubretas shares soared by nearly 10 percent on the Borsa Istanbul on the news.