1 week Ago By Staff report
SSR Mining Inc.’s production forecast for this year that folds in figures from the recently acquired Cripple Creek & Victor Mine in Colorado is for 410,000 to 480,000 gold equivalent ounces, including 160,000 to 190,000 ounces from Marigold in Nevada. A gold pour at SSR’s Marigold Mine in Nevada.
Denver-based SSR Mining stated earlier that it would wait until the deal with Newmont Corp. for CC&V was completed to provide guidance for this year. SSR Mining took control of CC&V on Feb.
28, so the figures are for March 1 onward for CC&V. The mine located in an historic 1890s underground gold mining district in Victor about 45 miles southwest of Colorado Springs produced 28,000 gold ounces from Jan. 1 to Feb.
28 and is expected to produce 90,000 to 110,000 ounces this year, SSR Mining said. Production also is coming from the Seabee underground operations in Canada and the Puna operations in Argentina “We entered 2025 with positive momentum. Our Americas assets, recently bolstered by the acquisition of CC&V, are well positioned for significant production growth and strong cash flows in 2025,” said Rod Antal, company chairman.
“In addition, we see attractive and low capital intensity opportunities to potentially extend the mine lives at each of these assets going forward and will continue to progress technical work through the year,” he said in the recent announcement. The company reported that technical work on an updated life of mine plan for CC&V will be completed within the next 12 months to show what SSR Mining envisions for the mine, where Newmont increased gold reserves by 85% to 2.4 million ounces at the end of 2024.
The production forecast for 2025 doesn’t include potential production from SSR Mining’s Çöpler gold mine in Turkey, however. Operations were shut down Feb. 13, 2024, because of a fatal leach pad slide.
Antal said that “constructive discussions with the relevant Turkish government authorities continue, as the company remains committed to both restarting the Çöpler mine and progressing the Hod Maden project towards a construction decision.” SSR Mining spent $127.4 million on reclamation and remediation there in 2024 out of the $250 million to $300 million the company expects to spend on reclamation and remediation at Çöpler.
According to the production guidance for the operating mines, SSR Mining forecasts all-in sustaining costs of $2,090 to $2,150 per payable ounce, but without the care and maintenance costs for Çöpler, the AISC would be $1,890 to $1,950 per ounce. A haul truck at SSR’s Marigold Mine northwest of Battle Mountain. SSR expects Marigold to produce 160,000 to 190,000 ounces of gold in 2025, about 40% of the company’s expected total production of around 410,000 to 480,000 gold equivalent ounces.
Reporting on Marigold northwest of Battle Mountain near Valmy in Humboldt County, SSR Mining stated that gold production will be higher in the second half of the year when higher grades stacked on the leach pad at the end of the first half later boost production. SSR Mining stated that the company is continuing to advance resource development and technical work at Marigold to extend the mine’s life beyond the current eight years of mineral reserves, with potential expansions at the Mackay, Valmy, New Millennium and Buffalo Valley. Exploration and resource development expenses are estimated at $22 million this year for Marigold, and the company budgeted $15 million this year for resource development drilling and leach pad expansions.
SSR Mining said that at Seabee in Saskatchewan the strongest production is expected to be in the first quarter of this year from higher grades, and near-mine exploration continues. At Puna, silver production is expected to be between 8 million and 8.75 million ounces or 90,000 to 100,000 gold equivalent ounces, with production weighted toward the first half of the year, largely driven by ore grades.
The company also plans to continue opportunities to expand Puna’s life. Get the latest local business news delivered FREE to your inbox weekly..
