The American mining company SSR Mining Inc. has signed a memorandum of understanding with Turkish Cengiz Holding A.S. to sell a controlling stake in the Çöpler gold deposit in Turkey for $1.5 billion. This is reported in a press release from SSR Mining.
The deal includes the sale of 80% in the Çöpler mine and related facilities in eastern Anatolia, including licenses and assets of Çakmaktepe, Bayramdere, Mavialtin and Tunçpınar. At the same time, a 20% stake owned by SSR Mining in the Hod Maden gold and copper project is not included in the transaction structure.
The financing provides for the payment of remuneration from cash after the completion of the transaction in the third quarter of 2026. Allen Overy Shearman Sterling and CIBC World Markets act as SSR Mining consultants.
The deal is subject to approval by the Turkish regulator. As part of the deal, Cengiz Holding will conduct due diligence on the Çöpler mine without the need to obtain additional operating permits or finance the transaction.
According to the terms of the deal, each party has the right to terminate the memorandum of understanding by notifying the other party, subject to payment of compensation in the amount of $50 million.
The sale decision is in line with SSR Mining's strategy to optimize its asset portfolio and refocus the business on North and South America through new assets, including the acquisition of the Cripple Creek & Victor mine in Colorado in 2025. In May 2024, SSR Mining completed the sale of the San Luis project in central Peru to Highlander Silver.
SSR Mining plans to use the funds received to reinvest in the business, return capital to shareholders and accelerate the company's growth. From the point of view of SSR Mining management, the company will continue to demonstrate high annual production rates, based on the development of deposits in the USA.
SSR Mining Inc. is an American precious metals mining company headquartered in Denver, Colorado. The company is engaged in the exploitation, exploration and development of precious metal deposits in the USA, Turkey, Canada and Argentina. In 2025, SSR Mining's gold production reached 447.2 thousand ounces, with the expectation of further production growth to 450-535 thousand ounces in 2026, excluding deposits in Turkey.
Cengiz Holding is a large Turkish industrial conglomerate for the extraction and processing of copper, gold and aluminum. In addition, the company is present in the construction, energy, metallurgy and chemical industries. The headquarters is located in Istanbul (Turkey).
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