Canada’s SSR Mining to sell stake in Turkey’s Copler mine for $1.5 billion

Trucks haul gold ore out of an open pit at the Marigold Mine located in eastern Nevada and seen in this Feb. 5, 2004 file photo. Shareholders in SSR Mining Inc. and Alacer Gold Corp. have overwhelmingly endorsed a no-premium deal to merge operations. The Canadian Press/AP/Debra Reid

Canada’s SSR Mining said on Wednesday it had entered a binding memorandum of understanding to sell its 80 per cent stake in Turkey’s Copler mine to Cengiz Holding A.S. for US$1.5 billion.

U.S.-listed shares of SSR Mining rose 7.3 per cent premarket following the news.

The gold miner said it was also conducting a review of its remaining platform in Turkey, including a 20 per cent interest in the Hod Maden development project.

SSR Mining had suspended operations at the Copler mine in 2024 after a landslide left at least nine miners missing, following which the company conducted a review of the mine.

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

(Reporting by Varun Sahay in Bengaluru; Editing by Shreya Biswas)