The Chinese translation is being made; the original is shown for now.
Published: October 27, 2026 |
ACG Metals Limited has entered into a binding agreement with Meta Nikel Kobalt Madencilik Sanayi ve Ticaret A.Ş. (META) to acquire 100 percent of mining license 60926 and all rights associated with it for an initial cash consideration of $4 million plus potential contingent payments totaling $7.85 million. The license contains the Keşkek Gold Project.
Keşkek provides a new source of oxide ore within 70 km of ACG’s Gediktepe Mine in Türkiye and is expected to extend the utilization of the company’s heap leach facility by several years.
“The acquisition of Keşkek provides an attractive opportunity to extend our gold production profile by securing a nearby source of gold-bearing oxide ore that can be processed using existing infrastructure at Gediktepe. This will enable ACG to continue primary gold production in addition to production of copper and zinc concentrates from our own sulphide ores via the flotation facility that we are just starting to ramp up,” said Artem Volynets, chairman and chief executive officer of ACG.
ACG will acquire the Licence from META for cash consideration of $7.85 million. In addition, META will receive a 1 percent gross revenue royalty on gold mined from the license area. ACG will also pay $60 per ounce for additional gold discovered and converted to ore reserves outside the defined Keşkek pit.
The project will leverage Gediktepe’s existing infrastructure. Ore will be transported to Gediktepe via paved and gravel haulage routes. Uluova, ACG’s existing mining contractor, is already established at the META site, supporting efficient trucking operations. Transport costs are expected to benefit further from Keşkek’s location along ACG’s existing concentrate offtake route, creating potential synergies with concentrate deliveries.
Mining and gold production are targeted to commence in mid-2027, by which time ACG expects all recoverable gold and silver from the material currently under heap leach to have been recovered. Production from Keşkek is expected to extend the operating life of Gediktepe’s gold production circuit by several years.
ACG Metals is a company with a vision to build a global, high-margin, copper-focused producer with safe, efficient, and sustainable operations. In September 2024, ACG successfully completed the acquisition of the Gediktepe Mine. Since then, the company has transformed the operation from a gold and silver producer into a copper producer, achieving first concentrate production in August 2026.
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