Gold reserves estimated at around $6B are found at a mine site belonging to a fertiliser producer Gubretas in the Marmara region of Turkey.

This undated file photo shows logo of the Turkish fertiliser firm Gubretas.
This undated file photo shows logo of the Turkish fertiliser firm Gubretas. (AA)

Some 3.5 million ounce of gold was found in a mine site belonging to the fertiliser producer Gubretas in the Marmara region of Turkey, the head of firm has said.

According to the current prices, the gold reserve's value is around $6 billion, Gubretas chairman Fahrettin Poyraz told Anadolu Agency on Tuesday.

The land in the Bilecik province was allocated to a private firm Koza Altin, but the agreement was canceled due to failure to fulfil obligations, he recalled.

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Among top five gold mines

Koza Altin was seized by the Saving Deposits Insurance Fund as part of the fight against the Fetullah Terrorist Organization (FETO), the group behind the 2016 defeated coup in Turkey.

As part of the gold researching process, Gubretas established a mining company, Maden AS.

Poyraz asserted that the new discovery is among top five gold mines globally.

The gold will be extracted by Maden AS within two years, he added.

Gubretas is a subsidiary company of Turkey's Agricultural Credit Cooperative.

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Source: AA