SSR Mining Inc.

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Silver Standard Resources, Inc.
TypePublic
TSX: SSO Nasdaq: SSRM
IndustryMining & Exploration
Founded1946
Headquarters
Vancouver
,
Canada
Key people
John Smith President,CEO,Director
Greg Martin CFO
ProductsSilver Zinc Tin Gold
Total assetsUS$828.81 million
DivisionsGSM Resources (AUS)
Sociedad Minera de Berenguela (Peru)
Websitesilverstandard.com

SSR Mining, formerly Silver Standard Resources is a Vancouver and Denver based gold, silver, zinc and tin producer that owns the largest silver mine in Argentina.[1] In addition it engages in exploration activity throughout the America's (6 countries) and Australia. Though its assets consist of 14 properties scattered across three continents it currently (January 2011) receives revenue from only one operation (Pirquitas, Argentina which started operating in December 2009). Silver Standard also has a total gold resource of over 3.5 million ounces though 2P reserves represent only 5%. 12 of the 14 projects are 100% owned (exceptions are San Luis (70%) and Maverick Springs is (55%). Not surprisingly a lot of its silver is in Mexico, Peru, the USA and Australia (those countries are the four largest producers of silver; Australia has the largest resource of silver). [2]


In the later summer of 2020, SSR Mining merged with Alacer Gold (previously based in Denver). Since the merge, the company has moved headquarters to Denver, Colorado, but still maintains an office in Vancouver, British Columbia. Rodney P. Antal is now the President and CEO of SSR mining (replacing Paul Benson after the merger closed). In February 2021, SSR Mining announced that Alison White would be the new Executive Vice President and CFO (replacing Greg Martin). In addition, the rest of the Executive team at SSR mining was added following the closure of the merger between SSR and Alacer Gold. Stewart Beckman is the Executive Vice President and COO (replacing Kevin O'Kane at the time of merger); F. Edward Farid is the Vice President and CCDO (Chief Corporate Development Officer). Michael J. Sparks is the Vice President and Chief Legal and Administrative Officer. In addition, the rest of the leadership team and information can be found on their website. The merger creating a company worth $4.0 billion [3]

2010 zinc production was about three million pounds (1.5 million in the fourth quarter). Tin production was on track to be near 100,000 pounds (about six times less than previously estimated)[4]

Active mines[]

Puna Operations[]

The Puna Operations are in the Jujuy Province, Argentina. They include the Chinchillas and Pirquitas mines. The Pirquitas mine is located in north-west Argentina. Reserves there are enough to keep it producing for 14.5 years at an average annual rate of 10 million ounces for silver and 2,500 tonnes for tin.[5] In 2010, its first year of production, it produced 6.3 million ounces of silver, almost 70% of that in the second half.[6][7] According to an analyst at Blackmont it will become "one of the world's primary silver mines".[8]

The Chinchillas mine supplies ore to the Pirquitas processing facility.

Marigold mine[]

Located in Humboldt County, Nevada, United States, the gold mine started operations in 1988.

Seabee Gold Operation[]

Located near Laonil Lake, Saskatchewan, Canada, the mine has started operations in 1991. The Seabee Mine Aerodrome services the mine

Projects[]

In addition to its lone operating mine in Argentina the company is in the process of developing 13 other projects. Though there are 14 in total located in seven countries (including further exploration at Pirquitas) 71% of all silver resources and 91% of gold are in Argentina and Mexico.[7]

Argentina is home to the Diabillos, Pirquitas, and Pitarilla projects. The Sunrise Lake gold and silver properties are in Canada. Bowdens (only silver) is in Australia, San Luis (gold and silver) and Berenguela are in Peru. Candelaria and Maverick Springs are in the United States (Maverick Springs is 50 miles from Elko, Nevada, Candelaria is near Copiaco, Nevada).

In December 2010 it sold the Snowfield and Bruceback projects to Pretium Resources for C$442 million.

In August 2011 it sold Australian silver project Bowdens (97.1 million ounces in measured/inferred silver resources) to gold miner Kingsgate Consolidated for $75 million, $65 million of which will be paid when the deal closes (a portion of which is Kingsgate company shares).[9]

References[]

  1. ^ "Silver Standard targets commercial production at Pirquitas by year-end". 2009-10-14.
  2. ^ "Silver-Mineral Fact Sheets-Australia". Retrieved 2011-02-19.
  3. ^ "SSR MINING AND ALACER GOLD ANNOUNCE AT-MARKET MERGER OF EQUALS TO CREATE A FREE CASH FLOW FOCUSED, DIVERSIFIED GOLD PRODUCER" (PDF).
  4. ^ "Silver Standard Resources 2010 Third Quarter Report" (PDF). 2010.
  5. ^ "Pirquitas tin production to start shortly". 2009-02-19.
  6. ^ "Silver Standard Resources 2011 Factsheet" (PDF). 2011.
  7. ^ a b "Silver Standard Resources 2010 Annual Report" (PDF). 2011.
  8. ^ "Silver Standard ramps up Pirquitas mine". 2009-07-08.
  9. ^ "Kingsgate buys NSW silver mine". August 6, 2011.
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