# Eti Bakır Invests $2.2 Billion Across 3 New Production Facilities

> Cengiz Holding subsidiary Eti Bakır has committed $2.2 billion in capital expenditure across three production sites in Elazığ, Çanakkale, and Sinop Boyabat. Supplying 25% of Turkey’s refined copper demand, the integrated producer has launched commercial operations at its Elazığ facility while scaling extraction and processing through the strategic acquisitions of Çayeli Bakır and Anagold Madencilik.

Published: 2026-09-22T12:43:00+00:00
Language: en
Categories: [Finance and Investment](https://chemexworld.com/en/categories/business-world-markets/finance-and-investment.md), [News](https://chemexworld.com/en/categories/news.md)

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## Content

Operating as Turkey’s sole integrated producer managing copper processing from pit extraction to refined end-product, Eti Bakır has outlined its multi-billion-dollar industrial expansion. With an annual refined cathode output of 90,000 tons meeting 25% of national consumption, the company is scaling its industrial footprint through brownfield upgrades, acquisitions, and greenfield developments.

Eti Bakır General Manager Asım Akbaş confirmed that total capital deployment across regional mining projects and smelting expansions stands at **$2.2 billion**, alongside completed acquisitions of Çayeli Bakır and Anagold Madencilik totaling **$1.8 billion**.

![](https://chemexworld.com/storage/uploads/eti_bakir_samsun.jpg)

### Regional Production Footprint and Capacity Highlights

- **Elazığ Maden Facility ($800M Investment):** Obtained temporary operating permits to commence operations this month, designed to process 1 million tons of run-of-mine (ROM) ore annually. Providing 700 local jobs, the operation links into circular processing: residual pyrites will be routed to the Mazıdağı plant to recover strategic cobalt and zinc.
- **Samsun Smelter and Electrolysis Plant:** Expanded cathode production capacity from 70,000 tons to **90,000 tons per year** to refine concentrate sourced from the new Elazığ site.
- **Çanakkale Halilağa Mine ($600M Investment):** Operated by Truva Bakır, the site is scheduled for commercial commissioning by the end of 2026. Designed for an annual run-of-mine capacity of 6 million tons, it will create 1,000 operational roles.
- **Sinop Boyabat Facility ($600M Investment):** Earmarked for commercial commissioning by late 2027 backed by an estimated $600 million capex.

### Value-Added Processing and Strategic M&A Execution

- **Çayeli Bakır Integration:** Finalized in late April. Copper concentrate previously exported in unrefined form is now processed domestically into high-purity cathode copper at the Samsun smelting facility.
- **Anagold Madencilik:** Integrated in May, operating one of the nation's two largest gold assets with a throughput capacity of 6,000 tons of ore per day, sustaining 3,000 direct jobs.

![](https://chemexworld.com/storage/uploads/eti_bakir_kulturel_miras_ve_arkeolojik_kazi_destekleri.jpg)

### Cultural Heritage and Archaeological Sponsorships

Through its archaeological preservation initiative, Eti Bakır finances critical historical fieldwork across Turkey:

- **İkiztepe (Samsun):** Excavations verifying prehistoric copper metallurgy in northern Anatolia, drawing 120,000 museum visitors over the past year.
- **Salkaya (Elazığ):** Fieldwork unearthing Early Byzantine floor mosaics and Roman-era architectural structures.
- **İnkaya Cave (Çanakkale):** Supported via Truva Bakır, documenting human settlement dating back 86,000 years as the second-oldest known habitation site in Anatolia.