SSR Mining to sell 80% of Çöpler Mine for $1.5bn cash by Q3 2026
SSR Mining will sell its 80% stake in the Çöpler mine and related Anatolian licences to Cengiz Holding for $1.5bn in cash, with a $100m deposit, closing in Q3 2026 pending Turkish approval. Excluding Hod Maden, the deal is backed by CIBC’s fairness opinion and will boost cash flow.
1. Divestment Agreement Details
SSR Mining has entered into a binding memorandum of understanding with Cengiz Holding to divest its 80% ownership of the Çöpler mine and associated properties for $1.5bn in cash. The agreement includes a $100m deposit and imposes a $50m reciprocal break fee, with closing targeted in Q3 2026 subject to approval from Türkiye's General Directorate of Mining and Petroleum Affairs.
2. Asset Scope and Exclusions
The assets covered by the transaction encompass all mining licences, rights, assets and liabilities linked to SSR Mining’s operations in eastern Anatolia, specifically at Çakmaktepe, Çöpler, Bayramdere, Mavialtin and Tunçpınar. The deal does not include SSR Mining’s stake in the Hod Maden development project, which remains under its ownership and strategic review.
3. Strategic and Financial Impact
SSR Mining anticipates that the all-cash transaction will deliver immediate net asset value and cash flow accretion relative to prior consensus estimates for Çöpler. CIBC World Markets provided a fairness opinion to the board while legal advisory services are being provided by Allen & Overy Shearman Sterling, underscoring the strategic importance of the divestment.