ACG Metals’ Keşkek gold project acquisition: production and capex lens for mine planners
Reviewed by Tom Sullivan

First reported on MINING.com
30 Second Briefing
ACG Metals has agreed to acquire 100% of the 666-hectare Keşkek gold project in Türkiye from Meta Nikel Kobalt for over $7 million, with $4 million paid upfront and $3.85 million due in mid-2027 on first gold production. Located 70 km from ACG’s Gediktepe copper-gold mine and already linked by ore haulage infrastructure, Keşkek will supply oxide ore to the existing heap-leach plant, which is achieving about 85% gold recovery. ACG expects Keşkek to extend Gediktepe’s life and potentially double copper-equivalent output from 20,000 t/y to 40,000 t/y while its new flotation facility ramps up copper and zinc concentrate production.
Technical Brief
- Binding agreement transfers 100% of the Turkish mining licence containing the Keşkek gold project.
- Consideration is split into a $4 million initial payment and $3.85 million deferred to mid‑2027.
- Deferred tranche is explicitly contingent on achieving first gold production from Keşkek.
- Licence area covers 666 hectares, giving scope for multiple pits or staged oxide development.
- Keşkek lies roughly 43 miles from Gediktepe, enabling short‑haul truck ore transfer.
- Existing connecting infrastructure between the two sites reduces upfront capex for haul roads and services.
- Heap‑leach facility performance has been improved to about 85% gold recovery on current oxide feed.
- Gediktepe has recently produced first copper concentrate, marking the start of sulphide flotation ramp‑up.
Our Take
With ACG Metals already reporting improved gold recoveries at Gediktepe via its proprietary heap leach process, applying that same 85% recovery assumption at the nearby Keşkek licence suggests a fast-follow, low-capex satellite strategy rather than a standalone build.
The over US$7 million consideration for 100% of the Keşkek Turkish mining licence is modest relative to ACG Metals’ earlier US$300 million outlay for Gediktepe, indicating the company is using small bolt-on gold assets in Türkiye to leverage existing copper-gold infrastructure along the Tethyan belt.
Our database shows ACG Metals recurring in copper and gold coverage across the Tethyan Copper Belt, and this Türkiye deal aligns with its stated plan (March 2026 item) to assemble a portfolio of producing or near-producing copper-gold assets rather than pursue large corporate takeovers such as the abandoned Anglo Asian bid.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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