SSR Mining To Acquire Addl. 30% Ownership In Kartaltepe Mining JV From Lidya Mining For $150 Mln

(RTTNews) - SSR Mining Inc. (SSRM, SSRM.TO, SSR.AX) announced Monday that it has reached an agreement to acquire an additional 30% ownership interest in the Kartaltepe Mining Joint Venture at the ??pler District from partner Lidya Mining for total consideration of $150 million in cash.

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 ??pler District.

The acquisition is expected to deliver material synergies through the remainder of the currently defined 22-year ??pler mine life.

SSR Mining will use proceeds from its non-core asset sales received over the course of the past 18 months to fund the transaction.

The Transaction is expected to be completed in the fourth quarter of 2022, upon satisfaction of closing conditions.