SSR Mining Inc. entered into a binding memorandum of understanding on March 3, 2026, with Cengiz Holding A.S. to sell its 80% ownership interest in the Çöpler mine and related properties in Türkiye for $1.5 billion in cash. The transaction excludes the Hod Maden development project and is subject to definitive agreements, limited due diligence, regulatory approvals, and customary conditions.
Key takeaways
Entered binding MoU on March 3, 2026, to sell 80% interest in Çöpler mine for $1.5 billion cash
$100 million deposit due within 10 business days, creditable against purchase price
$50 million termination fee payable by terminating party
Closing expected no later than 120 days after definitive agreements, targeted Q3 2026
Subject to Turkish regulatory approval and limited due diligence on mineral reserves/resources
CIBC provided fairness opinion confirming consideration is fair from financial point of view