ACG Metals Acquires Keşkek Mining Licence in Turkey
News related to:ACG Metals Limited · 2 min read
LONDON, Sept. 7, 2026 /CourierPR/ -- ACG Metals Limited has secured an important milestone in its expansion plans with the acquisition of the Keşkek mining licence. The company has entered into a binding agreement with Meta Nikel Kobalt Madencilik Sanayi ve Ticaret A.Ş. to acquire 100% of the mining licence 60926, covering the Keşkek gold project. The transaction will involve an initial cash payment of US$4 million, with an additional US$3.85 million payable contingent upon the start of production, expected to occur in mid-2027.
The Keşkek project, located approximately 70 kilometers from ACG's Gediktepe mine in Türkiye, is anticipated to significantly extend the utilisation of the company’s heap leach facility. According to ACG, the Keşkek pit, defined by the META technical team and verified by ACG's own team, contains approximately 300 kilotonnes (kt) of ore grading 0.90 grams per tonne (g/t) of gold. This ore will provide a new source of oxide feed for ACG's existing heap-leach facility, expected to enhance the facility's operational efficiency and extend its lifespan by several years.
ACG's technical team has estimated the Keşkek Licence area to contain a substantial resource. The company plans to integrate this new resource into its ongoing operations, leveraging its existing infrastructure to maximise the value of the acquired assets. The transaction is part of ACG's broader strategy to diversify its portfolio and ensure sustained growth in the gold mining sector.
With the new licence in place, ACG expects to increase its gold production capabilities. The company's team, known for its extensive M&A experience, will be tasked with overseeing the integration of the Keşkek project into its operations. This move is seen as a strategic step in ACG's growth trajectory, reflecting its commitment to expanding its presence in the Turkish mining sector.
The Keşkek project is set to become a key contributor to ACG's production targets. The company aims to ramp up its operations at the Gediktepe mine, with the addition of the Keşkek ore providing a significant boost. ACG anticipates that the integration of the new resources will enable the company to meet its ambitious production goals, which include increasing its gold output.
ACG's CEO, commenting on the acquisition, stated, "The Keşkek project is a strategic addition to our portfolio, aligning with our vision to become a leading player in the Turkish mining sector. This acquisition not only enhances our operational capacity but also positions us for long-term growth and sustainable development."
The company's focus on sustainable practices and strong corporate governance is evident in its approach to this acquisition. ACG's commitment to environmental and social responsibility is reflected in its plans for the Keşkek project, which are designed to minimise environmental impact while maximising economic benefits.
In conclusion, ACG Metals Limited's acquisition of the Keşkek mining licence represents a significant step in the company's expansion plans. The project is expected to bolster ACG's gold production capabilities and contribute to its broader strategic objectives. With the support of its experienced management team, ACG is well-positioned to capitalise on this new opportunity and continue its growth in the mining industry.