SSR Mining to Sell Stake in Turkey's Çöpler Mine for $1.5 Billion Cash

Key Facts

1SSR Mining entered a binding agreement to sell its 80% stake in the Çöpler mine in Türkiye for $1.5 billion in cash.

2The buyer is Cengiz Holding A.S., and the full cash consideration is payable upon the transaction's closing.

SSR Mining Inc. has announced a binding agreement to sell its 80% interest in the Çöpler gold mine in Türkiye to Cengiz Holding A.S. for $1.5 billion in cash. The full consideration is payable upon the transaction's closing, providing the company with significant immediate liquidity. This divestiture includes the Çöpler mine along with other related Turkish properties and assets owned by the firm. The move allows SSR Mining to exit its Turkish operations following recent operational and regulatory challenges at the site. Analysts view the $1.5 billion cash infusion as a major boost to the company's balance sheet, effectively removing the overhang associated with the mine. Furthermore, the sale is expected to streamline the company's portfolio and reduce its overall risk profile.