ISTANBUL (Reuters): Turkey’s fortunes have brightened after a discovery of a major gold deposit holding an estimated 3.5 million ounces (99 tons) of the precious metal valued at around $6 billion.
About 100 tons of gold deposits have been discovered in the Turkish city of Sogut in Ertugrul Ghazi, the head of Turkey’s agricultural sector and credit corporations has confirmed the discovery.
The amount of gold found in Sogut is estimated at 3.5 million ounces, or 99 tons, and is valued at more than $6 billion. Experts said that in the next two years, the gold from these deposits will begin to become part of the Turkish economy.
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Ertugrul Ghazi, the father of Ottoman I, the founder of the Ottoman Caliphate, founded the state by organizing a branch of the Kayi tribe in the Sogat region of present-day Belize Province, Turkey. It should be noted that Ertugrul Ghazi, the founder of the Ottoman Caliphate, had established his dominion over the city of Sogut.
