SSR Mining Suspends Operations at Copler Mine in Turkey
SSR Mining, a leading mining company, experienced a significant setback on Tuesday as it was forced to suspend all operations at its Copler mine in Turkey. The suspension came after a major slip occurred on the heap leach pad, causing a decline in the company's shares.
In today's early trading, SSR Mining's shares plummeted by 22% on the Toronto Stock Exchange, settling at C$10.22. This decline represents a staggering 46% fall over the past year. On Nasdaq, the stock was down 33% at $6.52, marking a 55% decrease compared to its value one year ago.
The slip on the gold mine's leach pad occurred on Tuesday morning, leading to the suspension of all operations. Located in the Erzincan province southeast of Istanbul, the Copler mine has been operational since 2010 and consists of two producing plants where ore is processed.
Before the suspension, SSR Mining had projected a gold-equivalent production of 540,000 to 600,000 ounces for this year, following a total output of 706,894 ounces in 2023. Looking ahead, the company anticipated a further increase in production to reach between 725,000 and 825,000 gold-equivalent ounces by 2028.
Despite this setback, SSR Mining remains committed to addressing the situation promptly and ensuring the safety and stability of its operations at the Copler mine.
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