TSX- and Nasdaq-listed SSR Mining on Wednesday announced that it will sell its 80% ownership stake in the Çöpler mine, in Türkiye, for $1.5-billion in cash, as the firm shifts its portfolio toward the Americas.

The buyer, Cengiz Holding, will acquire the Çöpler operation and associated assets in eastern Anatolia, including Çakmaktepe, Bayramdere, Mavialtin and Tunçpınar.

The transaction excludes SSR Mining’s 20% earned interest in the Hod Maden development project; however, executive chairperson Rod Antal said that the company was conducting a strategic review of its remaining platform in Türkiye.

“Over the last two years, we have worked diligently to progress the Çöpler mine to allow for a safe and responsible restart of operations. We have also concurrently worked closely with the Türkiye government authorities to address each requirement to secure the necessary approvals to restart operations. As part of these extensive efforts, we continued a strategic review of the optimal path forward at Çöpler to maximise shareholder value, and today we are pleased to announce this all-cash transaction with Cengiz Holding," said Antal.

"We believe the transaction will deliver significant net asset value and cash flow accretion relative to consensus estimates for Çöpler, which we expect will deliver immediate value to shareholders," he added.

SSR will use the cash proceeds received through the transaction for continued reinvestment in the business, capital returns, and accretive growth initiatives.

With last year’s acquisition of the Cripple Creek & Victor mine and the agreement to sell Çöpler, SSR has now strategically repositioned the portfolio to the Americas.

"As the third largest gold producer in the United States, SSR Mining is expected to continue its robust annual production, anchored by operations in the US," said Antal.

The transaction is subject to regulatory approval from the Turkish General Directorate of Mining and Petroleum Affairs, along with other customary consents and conditions. Cengiz Holding’s obligation to proceed is contingent on satisfactory completion of limited due diligence related to mineral reserves and resources at Çöpler but is not subject to operational permits, licences or financing conditions.

Either party may terminate the agreement upon notice, subject to payment of the $50-million termination fee.

The transaction is expected to close in the third quarter of 2026.