ACG Metals Buys Turkish Gold Project for $7 Million

ACG Metals has agreed to buy the Keşkek gold project in Türkiye for more than $7 million.
The company signed a binding agreement with Meta Nikel Kobalt Madencilik Sanayi ve Ticaret A.Ş. to acquire a 100% mining license. The deal includes an initial payment of $4 million, with the remaining $3.85 million due in mid-2027 upon first gold production.

The Keşkek project is located about 43 miles (70 kilometers) from ACG’s Gediktepe mine. It will supply additional oxide ore to the company’s existing heap-leach facility. Connecting infrastructure for ore transport is already built between the sites.

ACG expects the project to extend the operating life of its Gediktepe gold production by several years. The added gold capacity could double ACG’s annual copper equivalent output, from 20,000 tonnes to 40,000 tonnes. CEO Artem Volynets stated this helps ACG continue primary gold production alongside copper and zinc concentrates.

ACG will process gold from Keşkek using its heap leach infrastructure, which achieves gold recoveries of about 85%. The company recently produced its first copper concentrate at Gediktepe, marking a transition towards copper from precious metals and zinc.