Acquisition of 30% of Kartaltepe Transfers Control of the Entire Ҫӧpler District to SSR Mining
DENVER, CO, Oct. 24, 2022 /CNW/ - SSR Mining Inc. (NASDAQ:SSRM) (TSX:SSRM.TO) (AMEX:SSR) ("SSR Mining" or the "Company") is pleased to announce that it has reached an agreement to acquire an additional 30% ownership interest in the Kartaltepe Mining Joint Venture ("Kartaltepe") at the Ҫӧpler District from partner Lidya Mining ("Lidya") for total consideration of $150 million in cash (the "Transaction"). Upon completion of the Transaction, SSR Mining will increase its ownership interest in Kartaltepe from 50% and will own 80% of the entirety of the Ҫӧpler District. The acquisition is expected to deliver material synergies through the remainder of the currently defined 22-year Ҫӧpler mine life. The Transaction will provide increased exposure for the Company to potential exploration success on the geologically prospective Kartaltepe licenses, including Çakmaktepe Extension (Ardich), Çakmaktepe, and the Mavialtin Porphyry Belt. SSR Mining will use proceeds from its non-core asset sales received over the course of the past 18 months to fund the Transaction.
Read more at newswire.ca
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