SSR Mining Announces Suspension of Operations at Çöpler

Rhea-AI Summary

SSR Mining Inc. announces the suspension of operations at the Çöpler mine due to a large slip on the heap leach pad. A conference call is scheduled to provide an overview of current operations and long-term growth strategy.

Insights

Mining Engineer

The suspension of operations at SSR Mining's Çöpler mine due to a large slip on the heap leach pad represents a significant operational disruption. Heap leach pads are an essential component of gold and silver mining operations, where ore is stacked and a leaching solution is applied to extract precious metals. A slip or failure of such a structure can indicate a serious geotechnical issue, potentially leading to extended downtime and substantial remediation costs. It is crucial to assess the geotechnical stability of the heap leach pad and implement corrective measures to prevent future occurrences. This incident not only affects the company's short-term production but also has implications for its long-term operational planning and sustainability practices.

Environmental and Safety Compliance Officer

From an environmental and safety perspective, a slip on the heap leach pad is a matter of grave concern. It may lead to environmental contamination if leaching solutions spill or if there is uncontrolled release of materials. The safety of on-site personnel is also at risk during such events. Regulatory bodies may conduct investigations to ensure compliance with safety and environmental standards, which could result in fines or stricter regulations. The company must prioritize environmental remediation and safety measures to mitigate any potential impact and reassure stakeholders of their commitment to responsible mining practices.

Market Analyst

For investors and the stock market, the temporary halt in operations at the Çöpler mine could have a material impact on SSR Mining's financial performance. The suspension could lead to a decrease in production output, affecting revenue and potentially leading to a revision of the company's financial guidance. Investors will closely monitor the situation for updates on the duration of the suspension and the financial implications. The market's response to such events typically involves a reevaluation of the company's stock, factoring in the perceived risks and the potential costs associated with the incident. It is essential to analyze the company's risk management strategies and contingency plans to gauge their resilience in the face of such operational challenges.

DENVER--(BUSINESS WIRE)-- SSR Mining Inc. (Nasdaq/TSX: SSRM; ASX: SSR) (“SSR Mining” or the “Company”) announces a suspension of operations at the Çöpler mine as a result of a large slip on the heap leach pad. This event occurred in the morning of February 13, 2024 at approximately 6:30 am EST, and all operations at Çöpler have been suspended as a result.

Conference Call Information

SSR Mining’s senior leadership team will host a conference call this morning to provide an overview of current operations as well as the Company’s outlook and long-term growth strategy, as previously planned. Investors, media and the public are invited to listen to the conference call and accompanying webcast.

• Conference call and webcast: Tuesday, February 13, 2024, at 9:00 am EST.

		Toll-free in U.S. and Canada:		+1 (800) 319-4610
		All other callers:		+1 (604) 638-5340
		Webcast: http://ir.ssrmining.com/investors/events

• The conference call will be archived and available on our website. Audio replay will be available for two weeks by calling:

		Toll-free in U.S. and Canada:		+1 (855) 669-9658, replay code 0631
		All other callers:		+1 (412) 317-0088, replay code 0631

About SSR Mining

SSR Mining Inc. is a leading, free cash flow focused gold company with four producing operations located in the USA, Türkiye, Canada, and Argentina, combined with a global pipeline of high-quality development and exploration assets. Over the last three years, the four operating assets combined have produced on average more than 700,000 gold-equivalent ounces annually. SSR Mining is listed under the ticker symbol SSRM on the Nasdaq and the TSX, and SSR on the ASX.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240213378875/en/

SSR Mining Contacts:

F. Edward Farid, Executive Vice President, Chief Corporate Development Officer

Alex Hunchak, Vice President, Investor Relations

SSR Mining Inc.

E-Mail: invest@ssrmining.com

Phone: +1 (888) 338-0046

To receive SSR Mining’s news releases by e-mail, please register using the SSR Mining website at www.ssrmining.com.

Source: SSR Mining Inc.

FAQ

Why did SSR Mining Inc. suspend operations at the Çöpler mine?

SSR Mining Inc. suspended operations at the Çöpler mine due to a large slip on the heap leach pad.

When did the event at the Çöpler mine occur?

The event at the Çöpler mine occurred on February 13, 2024, at approximately 6:30 am EST.

What is the conference call about?

The conference call will provide an overview of current operations and the Company’s outlook and long-term growth strategy.

When is the conference call scheduled?

The conference call is scheduled for Tuesday, February 13, 2024, at 9:00 am EST.

How can I listen to the conference call?

You can listen to the conference call and accompanying webcast via the provided toll-free and international numbers or the webcast link.