Ann: Pre-Feasibility Study Demonstrates Robust Economics, page-8

Turkey is very pro-Western and is working hard to join the EU. Gov. initiated investment incentive scheme for local and foreign groups to assist reduce dependency on imports. The focus is mainly on sectors like energy, mining, automotives, and tourism, which are considered the main sources of Turkey’s wide current account deficit. Up to 73% energy is imported today. Two nuclear reactors under development (Akkuyu JV with Russia); Sinop JV between Mitsubishi and Arena (France). Azarga is major shareholder in AEK.

BMI (Fitch) View: The outlook for the Turkish mining sector is highly promising as we forecast a wealth of mineral reserves to come online over our forecast period to 2018.
(Over 20 foreign owned operators here include Alacer and Teck Cominco (Cu,Au).
The outlook for strong domestic demand... with a favourable regulatory environment .