Eti Maden

Eti Maden is a Turkish <a href="/facts/State-owned_company/yml2hFlI">state-owned</a> <a href="/facts/Mining_industry/g6uDIFab">mining</a> and <a href="/facts/Chemical_industry/3M6gfHer">chemicals</a> company focusing on <a href="/facts/Boron/Pmwgd7Mf">boron</a> products. It holds a <a href="/facts/Government_monopoly/d2qAMkgp">government monopoly</a> on the mining of <a href="/facts/Borate_minerals/dWx4jogd">borate minerals</a> in Turkey, which possesses 72% of the world's known deposits. In 2012, it held a 47% <a href="/facts/Market_share/kvXSlhlB">share</a> of global production of borate minerals, ahead of its main competitor, <a href="/facts/Rio_Tinto_Group/CCYJBbUL">Rio Tinto Group</a>, which held 23%.
In 2012, it was the forty-first largest industrial company in Turkey, with an annual <a href="/facts/Revenue/UDcW3HGL">revenue</a> of $850 million.
It was founded in 1935 as <a href="/facts/Etibank/zX9QaS9I">Etibank</a>, a bank created to finance Turkish <a href="/facts/Natural_resource/w9WXxMx3">natural resource</a> extraction; in 1993, the company's banking activities were privatized, and its mining activities separated under the name Eti Holding A.Ş. In 2004, the company was restructured again and named Eti Mine Works.
Its subsidiaries include AB Etiproducts OY, a <a href="/facts/Finland/G5Ak6T91">Finland</a>-based company which distributes Eti Mine Works products in <a href="/facts/Scandinavia/KpLQ40kl">Scandinavia</a>, <a href="/facts/Eastern_Europe/f5CDGzNA">Eastern Europe</a>, <a href="/facts/Russia/jfkCwyxn">Russia</a>, <a href="/facts/Central_Asia/rB8k0CyT">Central Asia</a>, and <a href="/facts/Africa/XkqQUP9s">Africa</a>. Bandırma Borax owns one of the small <a href="/facts/List_of_active_coal-fired_power_stations_in_Turkey/I7LSn82s">coal-fired power stations in Turkey</a>.

Eti Maden open-in-new

Eti Maden