Çöpler District Project (Initial Assessment – MII & MI Cases) PEA: $2.00B NPV, $218M Capex
SSR Mining Inc.'s Çöpler District Project (Initial Assessment – MII & MI Cases) in Erzincan Province, Turkey has a Preliminary Economic Assessment (PEA) outlining an after-tax NPV of $2.00B and initial capital of $218M. The mine plan runs 22 years at about 300 kozpa Au (5-year annual average) per year.
SSR Mining Inc.'s Çöpler District Project (Initial Assessment – MII & MI Cases) has reported Preliminary Economic Assessment (PEA) results for the gold project in Erzincan Province, Turkey. The study headlines an after-tax net present value of $2.00B at a 5% discount rate. It reflects SSR Mining Inc.'s (SSRM) latest disclosed economics for the asset.
Economics. The after-tax NPV is $2.00B using a 5% discount rate. Initial capital expenditure is estimated at $218M. All-in sustaining costs are pegged at 924 USD/oz. Economics are based on Long-term metal price assumptions of $1,600/oz gold, $21.00/oz silver, and $3.40/lb copper.
Production and mine plan. The project envisions an open-pit operation. Life of mine is 22 years. Average annual production is approximately 300 kozpa Au (5-year annual average). Average head grade is Oxide 1.26 g/t Au; Sulfide 2.45 g/t Au; Cu Concentrator 0.50 g/t Au, 0.20% Cu.
Resources and ownership. The company holds a 80% interest in the project.
These figures are extracted from SSR Mining Inc.'s technical disclosures and reflect the most recent PEA on file. Compare this project against other developers and producers in our project economics database, and always verify the numbers against the original technical report before making any investment decision.
Our Analysis
- NPV after-tax
- $2.00B
higher than 88% of 185 projects we track
- Initial capex
- $218M
11% of NPV
costlier than 54% of 171 projects we track
- Mine life
- 22yrs
- Study price assumption
- Long-term metal price assumptions of $1,600/oz gold, $21.00/oz silver, and $3.40/lb copper
- Spot gold today
- $4,162.30/oz
The after-tax NPV of $2.00B puts this project ahead of 88% of the 185 gold projects we track, which is a genuinely strong position on the headline metric. But rank is not the same as conviction, and the study stage is what tempers it: this is a PEA, scoping-level work that may lean on inferred resources and whose capital estimate typically carries a plus or minus 50% band. A high NPV percentile earned at that level of definition is a signal worth tracking, not a number to underwrite today. The 22-year mine life gives the asset room, but the numbers that decide its future will come from a more advanced study.
The constraint that matters most is not scale but definition. At $218M, initial capex is 11% of NPV and sits lower than 46% of the 171 gold projects we track: capital-light by the standards of the peer set. Against a US$6.90B market cap, the build cost is small, and that is the sharpest funding-risk signal here. A company of this size can absorb a build of this size without the financing gymnastics that sink larger developments. That is a real advantage, and it is the strongest thing this project has going for it.
The rest is context. Erzincan Province, Turkey, is a jurisdiction that asks for scrutiny on permitting and fiscal terms, and a company with 58 projects in our tracking is diversified enough that this one asset does not carry the equity story alone. The study assumes $1,600/oz gold against a live spot of $4,162.30/oz, so the economics are built on a price well below today's market: if spot holds, the returns carry upside the PEA does not capture. The question that decides this project is whether the PEA's capital and resource assumptions survive a feasibility-level study.
Our take, benchmarked against the project economics in the Mining Stocks database. Figures are estimates drawn from company technical reports — not investment advice; always verify against the source filing.