Eti Maden is a Turkish

state-owned State ownership, also called public ownership or government ownership, is the ownership of an industry, asset, property, or enterprise by the national government of a country or state, or a public body representing a community, as opposed to ...

mining Mining is the Resource extraction, extraction of valuable geological materials and minerals from the surface of the Earth. Mining is required to obtain most materials that cannot be grown through agriculture, agricultural processes, or feasib ...

and

chemicals A chemical substance is a unique form of matter with constant chemical composition and characteristic properties. Chemical substances may take the form of a single element or chemical compounds. If two or more chemical substances can be combin ...

company focusing on

boron Boron is a chemical element; it has symbol B and atomic number 5. In its crystalline form it is a brittle, dark, lustrous metalloid; in its amorphous form it is a brown powder. As the lightest element of the boron group it has three ...

products. It holds a

government monopoly In economics, a government monopoly or public monopoly is a form of coercive monopoly in which a government agency or government corporation is the sole provider of a particular good or service and competition is prohibited by law. It is a monopo ...

on the mining of borate minerals in Turkey, which possesses 72% of the world's known deposits. In 2012, it held a 47% share of global production of borate minerals, ahead of its main competitor,

Rio Tinto Group Rio Tinto Group is a British-Australian multinational company that is the world's second largest metals and mining corporation (behind BHP). It was founded in 1873 when a group of investors purchased a mine complex on the Río Tinto, in Hu ...

, which held 23%. It is owned by the

Turkey Wealth Fund The Türkiye Wealth Fund (TWF; , TVF) is a sovereign wealth fund founded in August 2016 and owned by the Government of Turkey. As of 2023, TWF had over $317 billion in total assets. The fund is operated with a "Strategic Investment Plan", which w ...

. In 2012, it was the forty-first largest industrial company in Turkey, with an annual

revenue In accounting, revenue is the total amount of income generated by the sale of product (business), goods and services related to the primary operations of a business. Commercial revenue may also be referred to as sales or as turnover. Some compan ...

of $850 million. It was founded in 1935 as Etibank, a bank created to finance Turkish

natural resource Natural resources are resources that are drawn from nature and used with few modifications. This includes the sources of valued characteristics such as commercial and industrial use, aesthetic value, scientific interest, and cultural value. ...

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

Finland Finland, officially the Republic of Finland, is a Nordic country in Northern Europe. It borders Sweden to the northwest, Norway to the north, and Russia to the east, with the Gulf of Bothnia to the west and the Gulf of Finland to the south, ...

-based company which distributes Eti Mine Works products in

Scandinavia Scandinavia is a subregion#Europe, subregion of northern Europe, with strong historical, cultural, and linguistic ties between its constituent peoples. ''Scandinavia'' most commonly refers to Denmark, Norway, and Sweden. It can sometimes also ...

Eastern Europe Eastern Europe is a subregion of the Europe, European continent. As a largely ambiguous term, it has a wide range of geopolitical, geographical, ethnic, cultural and socio-economic connotations. Its eastern boundary is marked by the Ural Mountain ...

Russia Russia, or the Russian Federation, is a country spanning Eastern Europe and North Asia. It is the list of countries and dependencies by area, largest country in the world, and extends across Time in Russia, eleven time zones, sharing Borders ...

Central Asia Central Asia is a region of Asia consisting of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. The countries as a group are also colloquially referred to as the "-stans" as all have names ending with the Persian language, Pers ...

, and

Africa Africa is the world's second-largest and second-most populous continent after Asia. At about 30.3 million km2 (11.7 million square miles) including adjacent islands, it covers 20% of Earth's land area and 6% of its total surfac ...

. Bandırma Borax owns one of the small coal-fired power stations in Turkey.

Ab Etiproducts Oy

In 1982, Ab Etiproducts Oy was established by the Finnish mining multimetal Outokumpu group and Etibank. In 1993 Outokumpu's share was transferred to Etimine SA, sister company of Ab Etiproducts Oy, responsible for the marketing of Turkish boron products in western Europe. In 2005, Ab Etiproducts Oy established a

subsidiary A subsidiary, subsidiary company, or daughter company is a company (law), company completely or partially owned or controlled by another company, called the parent company or holding company, which has legal and financial control over the subsidia ...

company Etiproducts Llc, in

. The company presently operates in

(Finland, Sweden, Norway), the

Baltic states The Baltic states or the Baltic countries is a geopolitical term encompassing Estonia, Latvia, and Lithuania. All three countries are members of NATO, the European Union, the Eurozone, and the OECD. The three sovereign states on the eastern co ...

(Estonia, Latvia, Lithuania), the African Continent, Moldova, Ukraine, Belarus, Russia, CIS countries. Warehouses are located in the

Baltic Baltic may refer to: Peoples and languages *Baltic languages, a subfamily of Indo-European languages, including Lithuanian, Latvian and extinct Old Prussian *Balts (or Baltic peoples), ethnic groups speaking the Baltic languages and/or originatin ...

and Black Sea Region regions.

Products

Boron minerals and refined products include:{{Cite web , url=http://www.etimaden.gov.tr/urunler-10k.htm , title=Eti Maden İşletmeleri , access-date=2014-01-11 , archive-url=https://web.archive.org/web/20140111071133/http://www.etimaden.gov.tr/urunler-10k.htm , archive-date=2014-01-11 , url-status=dead Colemanite Etiproducts

Boric Acid Boric acid, more specifically orthoboric acid, is a compound of boron, oxygen, and hydrogen with formula . It may also be called hydrogen orthoborate, trihydroxidoboron or boracic acid. It is usually encountered as colorless crystals or a white ...

(Granular and Powder) (Normal - Low - Ultra Low Sulphate) (Nuclear Grade) *

Boron Oxide Boron oxide may refer to one of several oxides of boron: *Boron trioxide (B2O3, diboron trioxide), the most common form *Boron monoxide (BO) *Boron suboxide Boron suboxide (chemical formula B6O) is a solid compound with a structure built of eight ...

(Granular and Powder) * Etibor-48 (Disodium Tetraborate Pentahydrate) * Borax Deca (Disodium Tetraborate Decahydrate) * Etibor-68 (Disodium Tetraborate Anhydrous) * Etidot-67 (Disodium Octaborate Tetrahydrate) Natural Boron Minerals: * Colemanite (Ground, Granular, Compacted, Concentrated) * Ulexite * Tincal

References

External links

Eti Maden Bandirma power station
on Global Energy Monitor Mining companies of Turkey Turkish companies established in 1993 Coal in Turkey