SSR Mining Inc
SSR Mining Inc. is a precious metals mining company with producing and development assets in the United States, Türkiye, Canada, and Argentina. Its portfolio includes gold doré operations and polymetallic concentrate production, with mines and exploration properties held through operating subsidiaries across the Americas and Türkiye.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueUnrefined gold bullion produced at the company's gold mines and sold to refiners or banks.
Polymetallic concentrates produced at Puna and sold to smelters or traders for refining.
Products
Reported · share of revenue- Gold71.2 %
- Silver23.6 %
- Lead2.7 %
- Other Metals2.2 %
- Zinc0.3 %
Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
SSR Mining sells gold doré from Marigold, CC&V, and Seabee primarily to banks, while gold doré from Çöpler, when operational, is sold to the Central Bank of Türkiye. Its Puna concentrates are sold to smelters or traders that handle further refining and metal marketing. The customer base is therefore concentrated in institutional bullion buyers and industrial metals intermediaries rather than end consumers.
Buy gold doré from Marigold, CC&V, and Seabee for refining and bullion markets.
Purchases Çöpler gold doré when the mine is operational.
Buy silver, lead, and zinc concentrates from Puna for further refining and resale.
Strategy
SSR Mining's operating model centers on running multiple producing mines while advancing exploration and development properties in the same regions. The company also emphasizes operating discipline through mine-level cost metrics such as cash costs and AISC, which are used to compare performance across assets and support capital allocation decisions.
Mine-level output and reliability drive revenue and cash generation in a portfolio miner.
Reserve replacement and project pipeline are needed to sustain long-term production.
Cash costs and AISC help compare mines and guide sustaining capital decisions.
Geography
SSR Mining's operating footprint spans Türkiye, the United States, Canada, and Argentina, with producing assets at Çöpler, Marigold, CC&V, Seabee, and Puna. The company also maintains exploration and development activity in these same jurisdictions, so country mix affects operating continuity, permitting, logistics, and exposure to local regulatory regimes.
Risks
SSR Mining is exposed to mine-specific operational, geological, and jurisdictional risks, including reserve estimation uncertainty, supply chain disruptions, energy and water availability, and foreign exchange movements. The company also faces material incident, permitting, environmental, and reputational risks tied to operating in multiple countries and to the Çöpler incident referenced in its filings.
- Çöpler incident-related risksImpact: CriticalLikelihood: High
The company states it is subject to new and ongoing risks as a result of the incident.
Exposure - Commodity price volatilityImpact: HighLikelihood: Medium
Gold and silver prices directly determine realized revenue for doré sales.
Exposure: Gold and silver production
- Reserve and resource estimation riskImpact: HighLikelihood: Medium
Mine plans depend on geological assumptions that may prove inaccurate.
Exposure: All operating mines
- Supply chain and transportation disruptionImpact: HighLikelihood: Medium
Operations depend on consumables, equipment, fuel, reagents, and logistics.
Exposure: All sites
- Water and energy availabilityImpact: HighLikelihood: Medium
Mining and processing require reliable water and power supplies.
Exposure: Especially remote mine sites
- Environmental and reclamation liabilitiesImpact: HighLikelihood: Medium
Closure, remediation, and asset retirement obligations may exceed estimates.
Exposure: Operating and closed sites
- Reputation and community relationsImpact: MediumLikelihood: High
Negative publicity can affect workforce retention, permits, and stakeholder support.
Exposure: Local communities and regulators
Accounting
Judgemental itemsThese estimates drive depletion, mine planning, and asset valuation.
Impact: Changes can alter reported costs and asset carrying values.
Mine closure and remediation liabilities require judgment on timing and cost.
Impact: Revisions can materially affect liabilities and expense recognition.
Acquisitions and earn-out style liabilities require fair value measurement.
Impact: Fair value changes can create period-to-period earnings volatility.
These measures adjust for by-product credits, sustaining capital, and lease items.
Impact: They influence how investors compare operating performance across mines.
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Last updated: 24/09/2026