ACG Metals is poised for a major transformation as it advances its sulphide expansion project at the Gediktepe mine in Turkey, aiming to commence commercial production of copper and zinc concentrates by mid-2026. The company, transitioning from a gold and silver focus to base metals, remains on track and on budget for this milestone, with 2026 guidance set at 20,000–22,000 tonnes of copper equivalent production. This shift positions ACG Metals to capitalize on strong copper demand amid global electrification trends, while maintaining low all-in sustaining costs and pursuing aggressive growth through acquisitions.
Gediktepe Sulphide Expansion: On Track for Mid-2026 Launch
ACG Metals is making steady progress on its flagship Gediktepe sulphide expansion project, located in western Turkey. The initiative involves constructing a new flotation plant to process sulphide ores, shifting the operation from oxide-based gold and silver production to copper and zinc concentrates.
Construction has advanced significantly, with the project consistently reported as on schedule and within budget. Recent updates indicate that key milestones in engineering, procurement, and construction have been achieved, positioning the facility for commissioning in the second quarter of 2026, followed by commercial production ramp-up by the end of the first half of the year.
This expansion leverages existing infrastructure at the producing Gediktepe mine, which ACG acquired in 2024. The mine has been generating revenue from residual oxide ore processing, including heap leaching for gold and silver. As sulphide production comes online, the company expects a phased transition, with oxide contributions continuing in the early part of 2026 to support cash flow.
CEO Artem Volynets has emphasized the strategic timing, noting that the project is designed to deliver roughly 25,000 tonnes per year of copper-equivalent output once at full capacity. The sulphide ores will yield high-grade copper and zinc concentrates, enhancing revenue quality and aligning with ACG’s broader ambition to build a multi-asset copper portfolio.
2026 Production Guidance and Cost Outlook
For the current year, ACG Metals has provided clear guidance reflecting the hybrid production profile during the transition:
Copper-equivalent production : 20,000–22,000 tonnes
Including oxide contribution : Approximately 17,500 ounces of gold equivalent from stacked and leached material
All-in sustaining costs (AISC) : US$2.40–US$2.60 per pound of copper equivalent
This cost range benefits from a reduced royalty rate on oxide production (down to 2.25% from 10% previously), providing a meaningful margin improvement. The sulphide operations are expected to deliver competitive costs, supported by the high-grade nature of the deposit and operational efficiencies.
In the first half of 2026, oxide gold-equivalent output is anticipated around 14,000 ounces, bridging the period until sulphide production fully ramps up. This dual-stream approach minimizes disruption and maximizes near-term cash generation.
Broader Strategy: Copper Roll-Up and Long-Term Ambitions
ACG Metals is pursuing an aggressive consolidation strategy in the copper sector, focusing on roll-up acquisitions of producing or near-producing assets rather than greenfield developments. The company prioritizes opportunities with strong ESG profiles and low carbon footprints, targeting regions such as the Tethyan Copper Belt, the African Copper Belt, and established jurisdictions like Chile and Peru.
The Gediktepe project serves as the foundational asset in this plan. With sulphide production commencing mid-year, ACG aims to scale rapidly toward mid-tier status. Longer-term targets include multi-asset operations delivering 200,000–300,000 tonnes per annum of copper production within 3–5 years, representing a potential 10x increase from current levels.
Recent corporate moves, including financing arrangements and leadership enhancements, underscore the company’s commitment to executing this vision. The focus remains on disciplined growth, leveraging market opportunities in a copper-deficient environment driven by renewable energy, electric vehicles, and infrastructure demands.
Key Operational and Financial Highlights
Project progress : Sulphide expansion over 60% complete in prior updates, with continued advancement into 2026
Near-term catalysts : Commissioning in Q2 2026, commercial sulphide output by end-H1
Additional upside : Enriched ore treatment project scoping completed, with permitting and engineering starting early 2026, potentially adding significant copper-equivalent tonnes over four years
Market positioning : Transition to base metals enhances exposure to copper price upside amid supply constraints
This mid-year milestone at Gediktepe represents a pivotal step for ACG Metals, marking its entry as a meaningful copper producer and setting the stage for sustained expansion in a commodity critical to the global energy transition.
Disclaimer : This article is for informational purposes only and does not constitute investment advice, financial recommendations, or an endorsement of any security. Readers should conduct their own research and consult qualified professionals before making investment decisions. Mining projects involve risks including operational, regulatory, commodity price, and execution uncertainties.