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SSR Mining Reports Second Quarter 2024 Results
DENVER--(BUSINESS WIRE)-- SSR Mining Inc. (Nasdaq/TSX: SSRM, ASX: SSR) ("SSR Mining" or the “Company") reports consolidated financial results for the second
About this update from Ssr Mining Inc.
[{"type":"text","content":" DENVER--(BUSINESS WIRE)--\nSSR Mining Inc. (Nasdaq/TSX: SSRM, ASX: SSR) (\"SSR Mining\" or the “Company\") reports consolidated financial results for the second quarter ended June 30, 2024, as well as an update on the February 13, 2024 incident at the Çöpler mine (the “Çöpler Incident” or the “Incident”).\n\n\nÇöpler Update\n\n\nThe primary focus following the Çöpler Incident was the recovery and return of our missing colleagues to their families. All nine of the individuals who were lost as a result of the Incident have now been recovered. We want to thank all of those who worked tirelessly to locate and return these individuals to their families. We continue to provide support to the families, our colleagues and the community members impacted by the tragic events of February 13, 2024, and to-date we have retained a full complement of salaried staff at Çöpler.\n\n\nImmediately following the Incident, in partnership with the Turkish authorities, several steps were taken to ensure containment of the Incident. All of the containment infrastructure, including the grout curtain, coffer dam, and buttress, as well as pumping systems and the Sabırlı Creek diversion, are successfully in place. Public statements from the Turkish government have continued to affirm that there has been no recordable contamination to local soil, water or air in the sampling locations being monitored.\n\n\nOver 13 million tonnes of displaced heap leach material at Çöpler have been moved since the Incident, including more than 9 million tonnes from the Sabırlı Valley. As previously guided, all displaced material is expected to be removed from the Sabırlı Valley into temporary storage areas by the end of the third quarter of 2024. From the start of the second quarter of 2024 onwards, estimates for the cost of site remediation are between $250 to $300 million, including legal contingencies, material movement and construction costs. In the second quarter, $55 million was spent on remediation activities at Çöpler. With total cash of $358 million at the end of the second quarter, total available liquidity in excess of $850 million, and ongoing free cash flow generation from Marigold, Seabee and Puna, SSR Mining’s balance sheet remains strong.\n\n\nThe investigations into the cause of the Çöpler Incident continue and we are cooperating fully with the relevant auth...