SSR Mining Inc. has signed a binding agreement to sell its 80% interest and related assets in the Çöpler Mine for a total cash consideration of USD 1.5 billion. According to the company, the Çöpler complex including Çöpler, Çakmaktepe, Bayramdere, Mavialtin, and Tunçpınar will be acquired by Cengiz Holding A.Ş.
The total transaction consideration of USD 1.5 billion will be paid entirely in cash at closing. SSR Mining is excluding its interest in the Hod Maden development project from the sale.
Rod Antal, CEO of SSR Mining, commented:
“Over the past two years, we have worked diligently to safely and responsibly restart operations at the Çöpler Mine. During this period, we closely collaborated with Turkish authorities to secure the necessary approvals. We conducted a strategic review of Çöpler to maximize shareholder value, and today we are announcing this fully cash-based transaction with Cengiz Holding. The deal provides net asset value and cash flow well above market expectations for Çöpler and will create immediate value for our shareholders.”
The Çöpler complex covers all associated mining licenses, assets, rights, obligations, and interests in Eastern Anatolia. Proceeds from the sale will be used for reinvestment in the business, returning capital, and value-accretive growth projects. SSR Mining continues to conduct a strategic review of its remaining Turkish assets, including its 20% earned interest in Hod Maden. The company noted that, following last year’s acquisition of the Cripple Creek & Victor mine and today’s sale of Çöpler, its portfolio is increasingly focused on the Americas. SSR Mining is the third-largest gold producer in the U.S. and aims to maintain strong production levels.
