ACG Metals Boosts Gediktepe Mine NPV to $1.2 Billion
News related to:ACG Metals Limited · 3 min read
LONDON, Sept. 17, 2026 /CourierPR/ -- ACG Metals Limited has announced significant updates to its Gediktepe mine, revealing a substantial increase in the project's net present value (NPV) and a revised production plan that promises to boost copper and zinc output. The company's latest Competent Person's Report (CPR), prepared by SRK Consulting (UK) Ltd., projects a total post-tax NPV of approximately $1.2 billion, marking a significant rise from the $265 million reported in the 2024 CPR.
The updated estimates reflect a 60% increase in average annual copper equivalent (CuEq) production, expected to reach 36,000 tonnes between 2027 and 2031, compared to the original target of 20-25,000 tonnes. H1 2026 oxide production has already surpassed full-year guidance, with further ounces anticipated before the end of the fiscal year. The company has revised its FY2026 production guidance to approximately 12-14,000 tonnes of CuEq, reflecting a three-month rephasing of sulphide production into FY2027. This rephasing prioritizes safe, reliable plant performance and aims to provide a robust foundation for sustainable long-term production.
The 2026 CPR also highlights a significant increase in ore reserves, with a 43% rise in total tonnage to 26.5 million tonnes from 18.5 million tonnes in the 2024 CPR. The updated reserves contain 176,000 tonnes of copper, 381,000 tonnes of zinc, 535,000 ounces of gold, and 20 million ounces of silver. These numbers represent increases of approximately 34%, 1%, 19%, and 16%, respectively, compared to the 2024 CPR estimates.
ACG Metals has also introduced an enriched ore treatment project, expected to add approximately 84,000 tonnes of CuEq to the life of mine production profile. The project, which was not included in the 2024 CPR, is anticipated to start online in Q3 2027, bringing forward previously deferred value from base metals and enhancing the total post-tax asset NPV by $365 million.
Heap-leach gold production is expected to continue beyond the end of 2026, supported by ACG's patented recovery technology, which has increased commercial gold recovery to approximately 85%. The company plans to extend heap-leach production using existing infrastructure, with an additional 340,000 tonnes of in-situ oxide ore to be mined alongside sulphide ore and stockpiled for subsequent processing.
The 2026 CPR reflects the Gediktepe mine's transition from oxide gold and silver production to copper and zinc concentrate production. The sulphide processing plant, which began producing first copper concentrate on August 31, 2026, is progressing as planned, with the operation expected to reach full commercial production by the end of the year. The plant is designed with a nameplate throughput of 1.8 million tonnes per annum, achieving copper recovery of 72% and zinc recovery of 75%, with payable production averaging 36,000 tonnes of CuEq per annum between 2027 and 2031.
ACG Metals' chairman and CEO, Artem Volynets, emphasized the significant transformation of the Gediktepe asset, stating, "Two years ago, Gediktepe was primarily a short-life gold operation with an unfunded plan to transition into copper production. Today, following significant investment and operational improvements, we have transformed the asset into a fully funded, copper-producing operation with three complementary processing streams, supported by precious metals and zinc production and a materially larger production profile."
The company is optimistic about the future of Gediktepe, with the enriched ore treatment project and the Keşkek licence acquisition (if completed) providing further upside potential. The Keşkek licence, if acquired, is expected to process approximately 300,000 tonnes of oxide ore grading 0.90 grams per tonne of gold, extending gold production by several years, subject to licence-transfer approval and permitting.
The 2026 CPR supersedes the previous Competent Person's Report dated August 20, 2024, and was prepared by SRK with an effective date of July 31, 2026. The report reflects the Gediktepe mine's transition to copper and zinc concentrate production, the planned enriched ore treatment project, and the extension of heap-leach facility production.