Turkey’s state news agency has reported that 99 tonnes of gold resources have been discovered in Sogut, the city which was conquered and ruled by Ertuğrul for the Seljuk dynasty.

The head of Agricultural Credit Cooperatives of Turkey and the Gubretas fertiliser production company found the gold deposit which is estimated to be of around six billion dollars’ worth.

The head of Agricultural Credit Cooperatives said that they would add the first tranche of gold to the Turkish economy within two years.

He said through a court verdict a year ago he won the site from another company, so his company would develop the find now. He has set a target to produce 100 tonnes of gold in five years.