Bloomberg News

Turkish Gold Companies Koza, Goldas Rise After Export Surge

June 01, 2012

Koza Altin Isletmeleri AS (KOZAL), a Turkish gold miner, and Goldas Kuyumculuk (GOLDS) Sanayi AS, a jewelry producer, climbed after figures showed national exports of precious metals soared last month.

Koza Altin added 7 percent to 33.70 liras at the close in Istanbul, the biggest gain since at least February 2010. Goldas rose 1.9 percent to 54 kurus.

The $1.5 billion increase in gold, jewelry and precious metal exports in April was mostly driven by Iran, which bought $1.2 billion worth of precious metals and jewelry in the month from Turkey, according to figures released yesterday by the state statistics agency.

Turkey exported $282 million worth of gold and precious metals in April last year.

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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