SSR Mining Inc (NASDAQ: SSRM) is on track to restart its Seabee gold mine in northern Saskatchewan following a forest fire that halted operations and damaged some of the company’s equipment.
The mid-tier gold producer said Monday that work is expected to resume mid-way through next month.
Employees were evacuated from the site on Aug. 21 due to the danger posed by the blaze. Only a select few stayed behind to help with fire protection initiatives.
“We would like to extend our gratitude to our team that assisted on-site following the evacuation,” SSR said in an update it provided on the matter, “as well as the Saskatchewan Public Safety Agency teams that helped protect the infrastructure at Seabee.”
The company explained that the mine and process plant were unphased by the fire but that “remote equipment including power poles, piping, and exploration equipment” were damaged.
SSR acquired Seabee through its acquisition of Claude Resources in 2016. The operation produced over 90 kilo-ounces last year and is expected to churn out approximately 80,000 this year.
As of the end of last year, the site held 343,000 ounces of proven and probable gold at an average grade of 5.17 grams per tonne. It has been a valuable contributor to Saskatchewan’s economy since the early 1990s.
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Marigold mine produces much more
SSR’s large-scale open pit operation in Nevada is on schedule to yield about 165 kilo-ounces this year.
The Marigold mine sits in the state’s Battle Mountain Eureka trend alongside other prolific assets like the Pan Gold Mine run by Calibre Mining Corp (TSE: CXB) (OTCMKTS: CXBMF). Also, the Ruby Hill site held by I-80 Gold Corp (TSE: IAU) and the Nevada Gold Mines Cortez Hills operation.
SSR’s number-one gold asset has historically been the Çöpler mine in Turkey. This operation would produce an average of 281,000 ounces per annum and was expected to increase its production rate in the coming years.
But, a very unfortunate incident occurred at the Turkish site in February when nine workers were killed by a catastrophic landslide. It involved around 10 million cubic metres of material containing cyanide and other hazardous chemicals. The operation has been shut down ever since.
Major landslide at the Canadian SSR Mining’s Çöpler gold mine in Turkey. At least 9 mineworkers are trapped under the rubble. This came in the wake of their cyanide leak into the Euphrates river 1,5 years ago. #MurdererSSRmining @MiningWatchpic.twitter.com/KYSGty3Mmw
— Tarık Nejat Dinç (@TarikNejatDinc) February 13, 2024
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