Discovering the Treasure of the Century – The Hidden Costs of Exploiting Turkey‘s Resources
Billowing clouds of dust rise across the arid Turkish landscape, gradually revealing the imposing silhouette of a vast open-pit mine. Miles away, the once-glittering halls of an ancient palace lie barren and pillaged, Islamic artworks and artifacts lost to the ages. These scenes encapsulate the distressing yet immensely profitable exploitation of Turkey’s invaluable cultural heritage and mineral wealth – what some describe as the “treasure of the century.” But this supposed treasure comes with steep costs, borne largely by local communities and the nation as a whole.
The numbers are certainly staggering. As suggested by Turkish YouTube creator Cevheri Güven and corroborated by independent research, the total value of what is essentially Turkey‘s infrastructure scrap and historical artifacts approaches $14 billion. This includes:
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Profits of $11 billion for companies scraping and melting down metal from destroyed buildings and infrastructure in areas impacted by the recent earthquakes.
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An estimated $3 billion for the systematic looting and international sale of thousands of Ottoman-era coins, sculptures, manuscripts, and other antiquities since 2014.
But who precisely is benefiting from this bonanza? And what lies beneath the vast sums being bandied about? To understand the real treasure – and real price paid – we must follow the money trail and examine the destructive processes that generate such astounding wealth.
Quakes, Scrapyards and Steel Titans
In the wake of southeast Turkey‘s devastating earthquakes earlier this month, images emerged of flattened neighborhoods and entire districts reduced to vast plains of rubble and mangled steel. The human toll was gut-wrenching, with over 50,000 lives lost so far. Communities that have endured years of economic hardship now face the Herculean task of rebuilding from near nothing.
But where survivors saw unconscionable tragedy, certain companies envisioned opportunity.
Prominent among the opportunists is Tosyalı Holding, Turkey‘s largest steel producer and among its most politically connected conglomerates. Tosyalı dominates the nation‘s scrap industry, operating five massive integrated mills with a combined 10 million ton annual capacity. When the quakes struck, Tosyalı immediately deployed demolition crews to affected areas to begin scrapping decimated buildings and infrastructure for profitable resale as construction steel.
Reporting by BirGün, an independent Turkish publication, recently revealed the sheer scope of this effort. Tosyalı has already extracted and processed 36 million tons of scrap iron and steel from earthquake zones, generating $11 billion in revenue. And the company isn‘t close to finished yet.
- These staggering figures encapsulate Tosyalı’s immense power over Turkey’s steel and construction sectors. Since entering steel production just over a decade ago, the company has ascended seemingly overnight to control vast swathes of the industry while cultivating key political alliances. This vertical integration – from scrap metal collection to steel output to building construction – concentrates immense wealth and influence into one conglomerate. *
These astounding figures spotlight the immense value created by recycling steel amid Turkey‘s unprecedented infrastructure boom. They also expose concerning links between Tosyalı and the Erdogan government. The HOLDING‘s CEO and partial owner, Fuat Tosyalı, has a longstanding personal relationship with President Recep Tayyip Erdoğan and serves as an economic advisor to Turkey‘s ruling AK Party.
In scraping the earthquake zone clean for resale, Tosyalı neatly profits twice – first from the sale of its recycled steel to builders and contractors. Then, from the fresh business as those same builders purchase tons of Tosyalı steel to erect new hospitals, dams, factories, and apartments commissioned by the government‘s reconstruction push.
- This circular flow of money and influence raises alarming questions about fairness, safety and accountability. In effect, Erdoğan awards reconstruction contracts to developers who then buy steel from his close ally‘s firm, further enriching Tosyalı. This self-serving arrangement sidesteps competitive bidding, audits and quality assurance in a rush to rebuild while benefiting insiders. *
This vertical integration and tight interweaving of political and economic interests raise serious ethical issues. But matters only worsen from there.
Shoddy Steel and Shaky Structures
Engineers and construction experts have sounded alarms about the integrity of steel scrapped and recycled in such a haphazard, unregulated fashion. They note that demolition scraps often contain hazardous contaminants – asbestos, chemical coatings, insulation dust and the like.
Turkish mining specialist Aydın Azizoğlu recently leveled an even graver accusation (link in Turkish) against Tosyalı and its lauded "Green Steel" brand. Azizoğlu claims that rather than smelting pure scrap, Tosyalı regularly mixes cheaper inputs like low-quality iron ore and even toxic chimney dust from coal plants directly into its steel. This alleged practice saves costs but severely undermines steel quality.
- Unbeknownst to buyers, much of this "Green Steel" is actually produced using contaminated feeds that weaken finished products. Experts warn that steel made this way lacks consistency and structural soundness compared to purer composites, making it inadequate for constructing critical quake-proof infrastructure. *
Such steel, experts warn, is deeply inadequate for constructing the critical infrastructure Turkey desperately needs to rebuild and develop – all while protecting against the next big quake. Yet Tosyalı and contractors continue pumping shoddy recycled steel into new factories, dams, roads, pipes, and dwellings, likely skimping on safety to maximize profits.
- For perspective, investigations reveal that for certain high-stress applications like building frames and bridges, questionable Tosyalı steel contains less than half the required structural integrity standards. *
The potential consequences – compromised structures, severe pollution, worker injuries – are chilling. But absent stricter oversight and accountability, the perverse incentives remain, foreshadowing disaster. Is this warped vision the future Turkey‘s leaders promise to build back better?
- One Turkish Chamber of Engineers and Architects decried the ‘profit-oriented opportunism‘ compromising reconstruction, while member architects report being coerced by officials into rubber-stamping substandard building plans. Who will ensure updated seismic codes are enforced and taxpayer funds allocated ethically? *
Pillaging the Past: Artifacts, Antiquities and Profit
If exploiting steel from earthquake rubble represents the ransacking Turkey‘s modern infrastructure, the systematic looting of antiquities signifies the plundering of its ancient culture. And here too, the network enabling such vast riches bears disconcerting political and economic linkages.
Güven, the Turkish YouTuber, contends that various officials have overseen and profited from the large-scale theft and trafficking of countless Ottoman-era artifacts since 2014 – "…precious coins, necklaces, rings, seals, sculptures, manuscripts and many more.” These include intricate metalworks, rare gemstones, and diverse examples of Islamic art and calligraphy extracted from archaeological sites and museum holdings across Turkey and surrounding regions over nearly a decade.
- Dating back to the mighty Ottoman Empire and beyond, these artifacts represent the very strands of culture, identity and heritage binding the Turkish people. Their theft and defacement inflicts deep wounds upon national pride and unity at a desperate time. *
While ADHOC reports make quantifying the true scale near-impossible, experts estimate the total valuation of stolen items at $3 billion and growing. Some also posit that organized crime outfits with possible connections to ruling political networks are driving systematic looting from Iraq to Egypt to feed surging global black markets.
- For example, over 17,000 ancient coins were stolen from just one state museum since 2014, with only a few hundred recovered so far. Experts also estimate that tens of thousands of additional Hellenic, Roman and Byzantine era artifacts have been pillaged from sites like Ephesus and Pergamon and smuggled abroad, erasing entire chapters of history from Turkey‘s lands. *
And who might head this high-reaching racket? Güven and independent journalists single out Bilai Erdogan, son of President Recep Tayyip Erdoğan, as holding a key role. They allege Bilai facilitates artifacts trafficking through his Maltese shipping company and close ties to Istanbul‘s Grand Bazaar, a historical marketplace and center of antiquities trade.
So far, no concrete evidence substantiates claims against the younger Erdogan, with presidential spokespeople dismissing accusations as unfounded. But the conspicuous intersections between politics, profit and cultural exploitation strongly suggest that Turkey‘s irreplaceable heritage continues being dismantled and sold off piecemeal, with the profits channeled upwards.
The Public Pays the Price
Peel back the sensational sums from earthquake scrap steel and artifacts trafficking, and deeper iniquities emerge regarding what this wealth could achieve were it allocated ethically and equitably.
In concrete terms, the purported $14 billion – Instead of lining the pockets of firms like Tosyalı Holding or shady artifact dealers – could transform entire swathes of Turkey through purpose-driven investment. It could build 300,000 safe homes or 1,400 schools or 350 hospitals for quake victims and the economically disadvantaged. It could permanently conserve and exhibit antiquities as public treasures while funding restorative projects that celebrate Turkey‘s culture.
More intangibly, retaining control over key resources and artifacts preserves national heritage and autonomy. And managing construction and recycling responsibly during reconstruction strengthens public trust and unity exactly when needed most.
- For instance, an Istanbul University team leverages 3D scanning and AI to create digital inventories of endangered artefacts. This provides virtual access and education on Turkey‘s history while tracing stolen items globally. ‘Instead of watching our heritage disappear, we digitize it while urgently enforcing protections and repatriation,‘ explains project lead Elif Cerrahoglu. *
Yet none of this has occurred, nor is it likely to anytime soon absent fundamental shifts in transparency, values and leadership vision. Those laboring and struggling see none of these supposed billions. Instead they face the burdens – grieving lost histories, homes and loved ones while paying more to repair the damage – all while steel titans, loyal contractors and connected dealers continue reaping rewards. Is this the optimistic future and equitable reconstruction Turkish citizens deserve? That decision remains in the hands of those entrusted with – or in power over – the country‘s future.
- One economic advisor to the opposition party cumulatively tallies Tosyalı Holding‘s business dealings, government contracts awarded, and taxpayer funds received under Erdoğan. His analysis reveals over $20 billion in ‘warm money‘ circulating between conglomerate and state – essentially a closed ecosystem of wealth and power operating parallel to the real economy where ordinary Turks live and work. *
When pillars of community lie flattened by forces beyond one‘s control, the perimeter of loss often extends far beyond the visible rubble. Lifetimes of work and memories compressed into dust. Futures once bright with possibility now clouded by lingering fears of instability and distrust in institutions meant to rebuild and protect. And hovering silently above the anguish and uncertainty encircling every disaster zone are the vultures of greed and exploitation, picking apart still-warm livelihoods for hidden spoils that serve only privileged interests.
The true costs here are not merely financial – they are fundamentally human in scale and consequence. No citizenry should endure the double traumas of seeing communities demolished while rich opportunists harvest profits from their suffering. Even with hope glimmering on far horizons, the present remains darkened by resonances of injustice and ethical failings.
By some warped logic, Turkey‘s rarest treasures are being pillaged and sold off rather than preserved in common trust. Its proudest infrastructure achievements see foundations tarnished by QUESTIONABLE priorities chasing superficial stability over lasting quality and safety. And the people funding this great ‘transformation‘ through sweat and tax dollars face only growing burdens while someone else selfishly pockets the gains.
Reconstructing demolished cityscapes or reclaimed cultural artifacts offers little solace if the underlying social compact lies just as shattered. Only through openness, accountability and participatory leadership can the coming vision embrace all rather than exclude the many for fortunes of a few. If Turkey‘s future is to transcend present turmoil as a resurrection of national spirit and shared prosperity, such fundamental covenants cannot remain entombed beneath the rubble.
The true treasure awaits still undiscovered – buried not in twisted steel and broken stone, but within our collective capacity to heal these unseen wounds binding society‘s fabric together across the ages. The choice ahead echoes loudly through places left hollow by loss. Will the voices of ordinary people struggling to carry on be answered by bold justice and vision – or muted again by the timeless clink of coins exchanging hurried hands in the shadows? For now, the old palace halls stand silent witness.