SSR Mining has released the results of the Hod Maden Technical Report Summary for its gold and copper project located in northeastern Türkiye. The report outlines updated economic, production, and cost estimates and replaces the previous feasibility study completed in 2021.
According to the report, the Hod Maden project demonstrates strong economic performance. On an after tax basis, the project shows a Net Present Value at a five percent discount rate of 1.66 billion US dollars and an Internal Rate of Return of 39 percent. Using spot metal prices, the after tax Net Present Value increases to 2.91 billion US dollars, with an Internal Rate of Return of 58 percent.
The life of mine production profile estimates total output of approximately 1.6 million ounces of gold and 209 million pounds of copper. Average gold production costs are estimated at 1,120 US dollars per ounce, while the all in sustaining cost is projected at 590 US dollars per ounce.
The report estimates total initial development capital for the project at approximately 910 million US dollars. SSR Mining’s remaining attributable capital contribution is expected to be about 469 million US dollars. The technical report has been filed with the United States Securities and Exchange Commission as part of an Form eight K disclosure.
The updated study incorporates refinements to mine design, processing flowsheet simplification, and increased confidence in mineral reserves. It also reflects additional engineering work, updated infrastructure planning, and revised operating assumptions.
Hod Maden is located in the Artvin region of Türkiye. SSR Mining stated that environmental permitting, community engagement, and infrastructure development activities continue to progress alongside technical planning.
