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SSR Mining inked a deal with Lidya Mining to purchase an additional 30% stake in the Kartaltepe Mining joint venture (JV) in the ??pler District, Türkiye, for a cash consideration of CAD$ 204 million (US$150 million). This acquisition increased SSR Mining's ownership in the JV to 80%. The Kartaltepe JV covers 9,200 hectares with eight licenses and boasts around 207,000 ounces of gold in mineral reserves. These licenses encompass deposits like Çakmaktepe and Bayramdere and the Mavialtin Porphyry Belt, featuring prospects such as Mavidere and Aslantepe. SSR Mining CEO Rod Antal emphasized the significance of the ??pler asset and the potential benefits of the acquisition, anticipating enhanced mine cash flow for the Çakmaktepe Extension and increased exposure to the ??pler District's potential upside. The company intends to finance the deal using proceeds from the sale of its non-core assets over the last 18 months. The transaction is slated for completion in Q4 2022, pending standard closing conditions.
Parties
Company
SSR Mining Inc.
Company
Lidya Mining
Deal Type
Merger & AcquisitionIndustry
MiningTransaction
$ 204,000,000Deal Status
ClosedClosing Date
06 January 2023