PUBLICATION
Turkey Power 2015 POWER Release
Though the modern structure of Turkey’s energy market was first formally established in 2001 through the creation of Turkey’s Energy Market Law, the dynamics underscoring today’s Turkish energy sector trace their roots to the creation of the Republic of Turkey in 1923. Advocating a statist approach to economic planning, the country’s leader, Mustafa Kemal Atatürk, established the political structures that would guide the expansion of Turkish energy and are only today being dismantled. Public works established the early rudiments of Turkish energy, constructing many of the country’s largest power-generation facilities, including the eponymously named Atatürk Dam, which currently generates 8,900 megawatts of energy annually. Only in 2004 did privatization begin for the energy sector in earnest, and the process is still underway.
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It is said that mining is a patient industry. Current demand projections are not. Demand for minerals deemed ‘critical’ is set to increase almost fourfold by 2030, according to the UN. Demand for nickel, cobalt and lithium is predicted to double, triple and rise ten-fold, respectively, between 2022 and 2050. The world will need to mine more copper between 2018 and 2050 than it has mined throughout history. 2050 is also the deadline to curb emissions before reaching a point of ‘no return.’ The pace of mineral demand and the consequences of not meeting it force the industry to act fast and take more risks. Mining cannot afford to be a patient industry anymore. The scramble for supply drives miners back to geological credentials, and therefore to places like the African Central Copperbelt.
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