ETİBANK (Eti Maden Operations)

It is possible to see the traces of the efforts given from prehistoric times to the present day in every corner of the country for the exploration and operation of the mining potential of Anatolia. Findings about mining in Turkey BC. It dates back to 7000 years. If the sale of obsidians extracted from Eastern Anatolia to the surrounding tribes through barter during the polished stone age is taken into account, the importance of Anatolian civilizations in world mining becomes much more evident.

Inspired by the Eti Civilization, which lived in the fertile lands of Anatolia and rose in mining, Etibank (Eti Maden İşletmeleri), named after our Great Leader Atatürk, has an important place in our country's mining sector with its activities.

Etibank was established on 14.06.1935 with the Law No. 2805 and was restructured at the beginning of 1998, providing the facts of industrialization and natural resources and finance, which are the engines of Atatürk, with Atatürk's vision that goes beyond the ages, right after the period of the world economic crisis and the war of independence in our country. Holding A.Ş. was restructured in January 2004 and renamed as Eti Maden İşletmeleri General Directorate.

Some important milestones for Etibank since its establishment;

1934  Keçiborlu/Isparta Sulfur Plant, one of the first mining investments of the Republic of Turkey, was established.

1935  Etibank was established, with the mandate of operating and using the underground resources of our country, to produce the mines, industrial raw materials, energy that our industry needs, and to carry out all kinds of banking transactions, by Atatürk's directive.

1939  Ergani/Elazig Copper Plant and Guleman/Elazig Chrome Plant were established.

1955  Iron mining and iron and steel production were transferred to TDÇİ.

1957  Coal mining was transferred to TKİ. Üçköprü/Muğla Chrome Plant and Antalya Electrometallurgy Plant were established.

1958  Emet/Kütahya Colemanite Enterprise was established.

1959  Küre/Kastamonu Copper Enterprise was established.

1960  Halıköy/İzmir Mercury Plant was established.

1964  Bandırma/Balıkesir Borax Plant was established.

1965  Seydişehir/Konya Aluminum Plant was established.

1968  Milas/Muğla Bauxite Plant was established. KBI and Çinkur were established.

1970  Kırka/Eskişehir Borax Plant was established.

1972  Şarkkromları/Elazığ Ferrochrome Plant and Cumaovası/İzmir Perlite Plant were established.

1974  Beyşehir/Konya Barite Plant and Mazıdağı/Mardin Phosphate Plant were established.

1976  Bigadiç Boron Enterprise was established.

1979  Kestelek/Bursa Colemanite Plant was established.

1980  Gümüşköy/Kütahya Silver Enterprise was established.

1982  AB Etiproducts OY/Finland, the marketing company for the Northern European market, is established.

1983  Çayeli Bakır İşletmeleri A.Ş./Rize, which is the first and largest company of the Turkish mining industry with foreign capital participation and in which Etibank has a 45% share, was established with the decision of the Council of Ministers.

1984  Established marketing company Etimine SA/Luxembourg for the Western European market.

1993  KBİ A.Ş., Çinkur A.Ş. and Etibank Banking AO were separated from Etibank and transferred to the Prime Ministry Privatization Administration.

1994  Ergani Copper, Keçiborlu Sulfur, Halıköy Mercury, Mazıdağı Phosphate Plants were closed.

1998  Within the framework of Etibank Restructuring, the decision of the Council of Ministers dated 26.01.1998 at the beginning of 1998, ETİ HOLDİNG A.Ş. and its subsidiaries, Eti Bor A.Ş., Eti Alumimyum A.Ş., Eti Krom A.Ş., Eti Bakır A.Ş., Eti Gümüş A.Ş., Eti Electrometalurji A.Ş., Eti Pazarlama ve Dış Ticaret A.Ş. Tic.A.Ş., was established.

2000  From our subsidiaries,

    Eti Bakir A.S.

    Eti Krom A.S.

    Eti Electrometallurgy Inc.

    Eti Gumus A.S.

It was handed over to the Privatization Administration.

With the 2001  High Planning Council's decision dated 26.04.2001 and numbered 2001/T-9, the subsidiary status of our subsidiary Eti Pazarlama ve Dış Ticaret A.Ş. handed over to the General Manager.

2003  One of our subsidiaries, Eti Aluminum A.Ş. and our subsidiaries, Çayeli Bakır İşletmeleri, were transferred to the Privatization Administration.

2004  Eti Holding A.Ş. was renamed the General Directorate of Eti Maden İşletmeleri in January 2004, with the decision of the Council of Ministers dated 09.01.2004 and numbered 2004 / 6731, within the framework of restructuring. According to this Decision, Eti Bor A.Ş.'s subsidiary and General Management status was abolished; Bandırma Boron and Acid Factories Operations Directorate was reorganized as Bigadiç Boron Operations Directorate, Emet Boron Operations Directorate, Kırka Boron Operations Directorate and Kestelek Boron Operations Directorate.

Today, Eti Maden İşletmeleri, with its capital of 100 trillion TL, is the leading company of Turkish Mining, producing mainly boron minerals and derivatives.

Eti Maden İşletmeleri strives to increase its contribution to the economy of our country in the boron sector, which is its main field of activity, and also to bring the trona and rare earth element deposits under its responsibility to the economy of our country.

Etibank was transferred to the Savings Deposit Insurance Fund with the decision of the Banking Regulation and Supervision Agency, numbered 86, published in the Official Gazette dated 27.10.2000 and numbered 24213. In its decision dated 2001 and numbered 554, it was envisaged that Etibank's license to conduct banking and accept deposits would be revoked as of 28.12.2001 and liquidated. However, with the Board decision taken later, the liquidation of Etibank A.Ş. was annulled and as of 05.04.2002 Bayındırbank A.Ş. The legal personality of the bank, which has been merged under its umbrella, has come to an end.

Source:  www.etimaden.gov.tr