SSR Mining Inc. has announced a significant development in its operations with the signing of a definitive share purchase agreement with Cengiz Holding A.S. for the sale of its 80% ownership stake in the Çöpler mine and related properties in Türkiye. The transaction, valued at $1.5 billion in cash, is expected to close by July 22, 2026, pending regulatory approvals and customary closing conditions. This agreement follows a memorandum of understanding established on March 3, 2026, and reflects SSR Mining's strategic decision to divest from the Çöpler mine, which has faced operational challenges since the Çöpler Incident in February 2024. The sale is anticipated to provide SSR Mining with substantial liquidity, allowing the company to focus on its core operations and future growth opportunities. However, the company has also indicated that it expects to incur a non-cash impairment charge between $310 million and $340 million due to the sale price compared to the estimated net asset value of the Çöpler mine. This charge will be recorded in the quarter ending March 31, 2026, and the mine will be classified as held for sale in the balance sheet. The agreement includes provisions for a transition services agreement to ensure a smooth handover of operations post-sale. SSR Mining's leadership has expressed confidence in the strategic direction of the company following this transaction, which is expected to enhance its financial position and operational focus.

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