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Get filing alertsSSR Mining completes $1.49B sale of Çöpler mine stake in Türkiye to Cengiz Holding
Filed June 30, 2026 · Period ending June 24, 2026 · ~1 min read
Key Changes
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high
Closed sale of 80% ownership in Çöpler mine and related properties for approximately $1.49 billion cash after working capital adjustments, removing a significant asset from the portfolio.
Item 2.01 — Completion of Acquisition or Disposition of Assets verify on EDGAR → -
high
Pro forma analysis shows continuing operations would have generated $2.46 diluted EPS in 2025 versus reported $1.85, indicating Çöpler had been a drag on consolidated profitability.
Exhibit 99.1 CHARTER view on EDGAR → -
medium
Transaction resulted in estimated $2.2 million loss after $5 million in transaction costs and $5.7 million working capital adjustment; company had already taken $338.2 million write-down in Q1 2026.
Exhibit 99.1 CHARTER view on EDGAR → -
low
Cengiz Holding assigned certain purchase agreement rights to İkonik Maden A.Ş., a Turkish entity, at closing without changing transaction economics.
Exhibit 99.1 CHARTER view on EDGAR →
Summary
SSR Mining closed the sale of its 80% stake in the Çöpler gold mine in Türkiye to Cengiz Holding for approximately $1.49 billion in cash on June 24, 2026. The transaction, originally announced in March 2026, removes a significant but underperforming asset from the company's portfolio and provides substantial cash proceeds that could be deployed for debt reduction, other investments, or shareholder returns. The pro forma financials reveal that Çöpler had been weighing on consolidated results.
Excluding the mine, SSR Mining's continuing operations would have generated $2.46 diluted EPS in 2025 compared to the reported $1.85, and would have been profitable in 2024 and 2023 instead of posting losses. The company had already written down Çöpler by $338.2 million in Q1 2026, and the final transaction loss is minimal at $2.2 million. For shareholders, the key question is how management will deploy the $1.5 billion in proceeds to enhance returns from the remaining portfolio.
Section-by-Section Diff
Event · Exhibit 99.1 CHARTER
Added in current filing · view on EDGAR →
Cash proceeds from sale $ 1,500,000 | Estimated net working capital adjustment | (5,721)
Pro forma cash proceeds, net | $ 1,494,279
Net assets disposed of at March 31, 20261
(1,844,240) | Non-controlling interest at March 31, 2026 | 352,803 | Estimated transaction costs | (5,000)
Estimated loss on the Transaction1 | $ (2,158)
The pro forma analysis estimates net cash proceeds of $1.494 billion after a $5.7 million working capital adjustment, with approximately $5 million in transaction costs. The company had already recorded a $338.2 million write-down of Çöpler to fair value in Q1 2026, and the estimated loss on the transaction is $2.2 million. The divestiture removes Çöpler's operations, which contributed $442.4 million in revenue in 2023 but also carried significant costs and impairments in recent years.
Added in current filing · view on EDGAR →
Pro forma basic earnings (loss) per share from continuing operations $ 2.61
$ 0.78
$ 0.37
Pro forma diluted earnings (loss) per share from continuing operations $ 2.46
$ 0.76
$ 0.37
On a pro forma basis excluding Çöpler, SSR Mining's continuing operations would have generated diluted EPS of $2.46 in 2025, $0.76 in 2024, and $0.37 in 2023, compared to reported diluted EPS of $1.85, $(1.29), and $(0.48) respectively. The pro forma results show the company's remaining operations are profitable, whereas the consolidated results including Çöpler showed losses in 2024 and 2023 due to impairments and operational challenges at that mine.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 2, 2026 · How we verify