SSR Mining has agreed to sell its 80% ownership in the Çöpler mine and related properties in Türkiye to Cengiz Holding for $1.5 billion in cash.
The full purchase price is payable in cash at closing, structuring the transaction as an all-cash sale with no staged earnout or deferred consideration disclosed, except a $100 million deposit required from Cengiz Holding that will be credited against the purchase price at closing.
The sale covers a broad operating package in eastern Anatolia. Beyond Çöpler itself, the divestment includes all mining licenses, assets, rights, liabilities, and interests tied to SSR Mining’s operations in the region, specifically including Çakmaktepe, Bayramdere, Mavialtin, and Tunçpınar.
Importantly, the transaction excludes SSR Mining’s interest in Hod Maden. The company said it is conducting a strategic review of its remaining platform in Türkiye, including its 20% earned interest in the Hod Maden development project.
SSR Mining said the transaction follows two years of efforts to advance Çöpler toward a safe and responsible restart and to address requirements from Türkiye government authorities to secure restart approvals.
Notably, the buyer’s commitment is not contingent on financing and also not subject to the receipt of operational permits or other licenses related to Çöpler.
Management said the proceeds are expected to support three capital priorities: continued reinvestment in the business, capital returns, and accretive growth initiatives.
Management explicitly linked the Çöpler divestment to the prior acquisition of the Cripple Creek & Victor mine, saying the two moves have repositioned the company’s portfolio to the Americas. SSR Mining added that it expects to remain anchored by US operations and described itself as the third largest gold producer in the United States.
The agreement also includes a $50 million reciprocal break fee. Closing is expected in the third quarter of 2026.
The transaction remains subject to regulatory approval from the Turkish General Directorate of Mining and Petroleum Affairs, along with other required consents and customary closing conditions.
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