SSR Mining Sells 80% Çöpler Mine Stake for $1.5B, Shares Surge 15%
SSR Mining raised $1.5 billion by selling its 80% stake in the Çöpler mine in Turkey to Cengiz Holding, driving a 15% share price jump. Proceeds will fund reinvestment in U.S. gold operations, capital returns and accretive growth, while the company reviews next steps for its 20% Hod Maden interest.
1. Çöpler Mine Stake Sale
SSR Mining entered a binding memorandum of understanding with Cengiz Holding to sell its 80% ownership in the Çöpler gold mine for $1.5 billion in cash. The transaction excludes its 20% interest in the Hod Maden project, which remains under strategic review.
2. Strategic Reinvestment and Growth
Proceeds from the Çöpler sale will fund reinvestment in North American operations, support planned capital returns to shareholders, and back accretive growth initiatives focused on U.S. gold assets. The divestiture signals a shift away from Turkish operations toward higher-return domestic projects.
3. Market Reaction and Outlook
The announcement triggered a 15% jump in SSR Mining’s share price, reversing a two-day slide and reflecting investor confidence in the company’s refocused strategy. Management expects the transaction to deliver immediate net asset value accretion relative to prior consensus estimates.