Türk Altın acquires Sındırgı Maden İşletmeleri for $65.5 million

Türk Altın has completed the acquisition of Sındırgı Maden İşletmeleri AŞ, a company holding mining licenses and ore processing facilities in the Balıkesir and Bilecik provinces of Turkey. Following legal, financial, and technical due diligence, the final transaction price was set at $65.5 million, including VAT and taxes, a slight adjustment from the previously estimated $69.9 million.

The acquisition involves the transfer of all shares from shareholders Özaltın İnşaat Ticaret ve Sanayi AŞ, Muzaffer Özdemir, and Proje A İnşaat Mühendislik Müteahhitlik Mimarlık Proje Danışmanlık Ticaret AŞ. Through this deal, Türk Altın gains control over six Group IV mining licenses, 108 real estate properties, an ore processing plant, a waste storage facility, and various machinery and equipment.

According to UMREK reports, the acquired assets include estimated reserves of approximately 76,049 ounces of gold and 1.8 million ounces of silver.