Canada’s SSR Mining (TSX: SSRM; Nasdaq: SSRM) surged 15% in pre-market trading in New York on Wednesday after agreeing to sell its 80% stake in the Copler gold mine and related properties in Turkey to Cengiz Holding for $1.5 billion (C$2.05 billion) in cash.
The Copler mine and related properties include all mining licences, assets, rights, liabilities and interests tied to the company’s operations in eastern Anatolia.
“With last year’s acquisition of the Cripple Creek & Victor mine and today’s agreement for the sale of Copler, we have strategically repositioned the portfolio to the Americas,” executive chairman Rod Antal said.
SSR acquired CC&V from Newmont (NYSE: NEM; TSX: NGT) in February m 2025 for $275 million. CC&V, located about 160 km southwest of Denver, is projected to average annual output around 141,000 oz. from 2026 to 2028.
Turkey exit?
The miner said it is also reviewing its remaining platform in Turkey, including its 20% interest in the Hod Maden development project.
SSR Mining had suspended operations at Copler in 2024 after a landslide left at least nine miners missing. An independent review of the heap leach failure later identified a third-party engineered design flaw as the most likely cause of the incident, prompting the company to conduct its own review of the asset.
The company expects the transaction with Cengiz Holding to close in this year’s third quarter.
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