SSR Mining Provides an Update on Incident at Çöpler
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Insights
The incident at SSR Mining's Çöpler mine is a significant event that could have substantial implications for the company's operations and financial performance. The suspension of operations at the mine due to a significant slip on the heap leach pad highlights inherent industry risks associated with mining activities. Investors and stakeholders are likely concerned about the immediate impact on production output and the potential financial ramifications, such as increased costs due to emergency response and potential repair and reinforcement of the heap leach pad.
Moreover, the environmental aspect cannot be overlooked. Although preliminary surface water samples are reported to be within normal values, the long-term environmental impact will be closely monitored by regulators and could lead to stricter oversight or fines if any contamination is later detected. The response by SSR Mining to cooperate fully with regulators and involve third-party experts in containment and environmental sampling is a critical step in mitigating both environmental and reputational risk.
The response to the Çöpler mine incident will be a test of SSR Mining's crisis management protocols. The focus on search and rescue for the nine unaccounted individuals underscores the human element of such incidents, which can have profound effects on morale and the company's public image. The involvement of over four-hundred personnel from Türkiye's national disaster relief agency indicates the severity of the situation and the need for extensive resources in the emergency response.
Effective crisis management requires not only immediate and efficient response to ensure the safety and well-being of employees but also transparent communication with stakeholders. The commitment to public disclosure as further information becomes available is a positive step in maintaining stakeholder trust during such events. The company's long-term reputation and ability to attract and retain employees may be influenced by how effectively it manages and communicates during this crisis.
The health and safety implications of the incident at SSR Mining's Çöpler mine are paramount. The company's emphasis on the health, safety and well-being of employees and contractors aligns with industry best practices for responsible mining operations. The incident raises questions about the integrity of mining infrastructure and the effectiveness of monitoring and maintenance practices.
The reported containment measures and environmental sampling are critical in assessing the immediate environmental impact and in preventing further damage. The fact that preliminary surface water sampling results are within normal values is reassuring in the short term, but ongoing monitoring will be essential to detect any delayed environmental effects. This incident will likely result in a re-evaluation of safety measures and could set a precedent for industry-wide safety reviews, particularly pertaining to heap leach pad stability.
A significant slip occurred at the Çöpler heap leach pad at approximately 6:30am ET on February 13, 2024. At present, we can confirm nine individuals are unaccounted for at site and our efforts right now continue to focus on locating our colleagues who are missing and ensuring that all our people are accounted for and safe. All operations at the mine remain suspended.
The health, safety, and well-being of our employees, contractors, and their families are and continue to be our number one priority. Emergency response teams are actively focused on search and rescue efforts as we work to locate the unaccounted for employees. Over four-hundred personnel from the Türkiye national disaster relief agency are on scene to assist in the rescue efforts.
SSR Mining is providing its full cooperation to the regulators on site, and we want to thank them for their assistance.
Our emergency response protocol has also been focused on containment and environmental sampling, with the support of third-party experts. Preliminary surface water sampling has been conducted and to date all samples are within the normal values. Further information will be publicly disclosed as it becomes available.
Cautionary Note Regarding Forward-Looking Information and Statements
Certain statements contained in this news release constitute forward-looking information within the meaning of applicable securities laws. Forward-looking information may be contained in this document and our other public filings. Forward-looking information relates to statements concerning our outlook and anticipated events or results and, in some cases, can be identified by terminology such as “may”, “will”, “could”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “projects”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts.
Forward-looking information and statements in this news release are based on certain key expectations and assumptions made by us. Although we believe that the expectations and assumptions on which such forward-looking information and statements are based are reasonable, undue reliance should not be placed on the forward-looking information and statements because we can give no assurance that they will prove to be correct. Forward-looking information and statements are subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. You should not place undue reliance on forward-looking information. Forward-looking information are only predictions based on our current expectations and our projections about future events. Actual results may vary from such forward-looking information for a variety of reasons including, but not limited to, risks and uncertainties disclosed in our filings on our website at www.ssrmining.com, on SEDAR at www.sedarplus.ca, on EDGAR at www.sec.gov and on the ASX at www.asx.com.au and other unforeseen events or circumstances. Other than as required by law, we do not intend, and undertake no obligation to update any forward-looking information to reflect, among other things, new information or future events.
About SSR Mining
SSR Mining Inc. is a leading, free cash flow focused gold company with four producing operations located in the
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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
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Source: SSR Mining Inc.
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