PERTH (miningweekly.com) – Triple listed SSR Mining has reached a $150-million agreement with joint venture (JV) partner Lidya Mining to acquire an additional 30% stake in the Kartaltepe mining JV in the Ҫӧpler district, in Türkiye, taking its ownership stake to 80%.

The acquisition is expected to deliver material synergies through the remainder of the currently defined 22-year Ҫӧpler mine life, and will provide increased exposure for SSR to potential exploration success on the geologically prospective Kartaltepe licences, including Çakmaktepe Extension (Ardich), Çakmaktepe, and the Mavialtin Porphyry Belt.

SSR Mining will use proceeds from its noncore asset sales received over the course of the past 18 months to fund the transaction, the company said this week.

“The acquisition of an additional 30% of Kartaltepe continues the company’s successful track record of reinvesting proceeds from noncore asset sales into core operating jurisdictions,” said SSR president and CEO Rod Antal.

“Ҫӧpler is our cornerstone asset, and Çakmaktepe Extension represents one of the major drivers of both near and longer-term upside for the operation. With this transaction, we expect to improve the life-of-mine cash flow for Çakmaktepe Extension while also increasing our exposure to potential future upside at the Ҫӧpler district. Resource conversion and expansion drilling at Çakmaktepe Extension has continued throughout 2022, with the project remaining on track for first production in 2023.

“With our aggressive exploration programmes targeting near-mine and regional prospects, we expect to deliver additional mineral resource and reserve growth across the Çöpler district in the coming years. This transaction builds on our long-standing, value accretive and exclusive partnership with Lidya Mining within Türkiye.”

Kartaltepe is comprised of eight licences covering 9 200 ha, which host a total of approximately 207 000 oz of gold mineral reserves, including approximately 200 000 oz, or 12%, of the existing Çakmaktepe Extension mineral reserves outlined in the 2021 Ҫӧpler District Master Plan. In addition, the licences host 408 000 oz of measured and indicated mineral resources and 394 000 oz of inferred mineral resources.