ACG Metals has successfully completed a $290 million acquisition of the Gediktepe mine in Turkey’s Balıkesir Province. The mine, which is currently producing gold and silver, is set to transition to focus on copper and zinc production, with the goal of generating 20,000 to 25,000 tonnes of copper equivalent annually starting in 2026. The mine has an expected operational lifespan of 11 years.
Located in Western Türkiye, the Gediktepe Mine is an open-pit operation that will shift its production emphasis to copper and zinc from its oxide ore base. This acquisition strengthens ACG Metals’ portfolio and enhances strategic partnerships with Lidya and Çalık Holding. Furthermore, equity commitments from co-sponsors Traxys and Glencore underline confidence in the company’s growth in the copper sector.
ACG Chairman and CEO Artem Volynets highlighted this acquisition as the first step in the company’s broader expansion strategy. He shared plans to pursue additional deals that could increase ACG’s production capacity to between 200,000 and 300,000 tonnes annually over the next three to five years.
