SSR Mining is significantly scaling up its presence in the American West through an all-cash acquisition of Roxmore Resources. The move focuses primarily on the Converse gold project, which sits just six kilometers away from the existing Marigold Complex along Nevada’s prolific Battle Mountain-Eureka Trend. By absorbing this neighboring asset, SSR Mining secures a massive resource consisting of millions of ounces of gold while cementing its position as the third largest gold producer currently operating within the United States.
Executive Chairman Rod Antal described the purchase as a compelling opportunity to secure a high quality resource at an attractive price point. Because the two sites are so close together, the company believes it can eliminate redundant administrative roles and overhead costs, leading to estimated savings of at least 200 million dollars over the life of the mine. This strategic alignment makes SSR Mining what leadership calls the natural acquirer for such a deposit, allowing them to leverage shared infrastructure and operational efficiencies across their Nevada holdings.
Looking ahead to production, the Converse project is expected to contribute between 150,000 and 170,000 ounces of gold per year starting around 2033. While initial construction is estimated to cost nearly 900 million dollars, those expenditures aren’t expected until the early 2030s. When combined with other major operations like Cripple Creek and Victor in Colorado, SSR Mining anticipates its total U.S. output will average up to 400,000 ounces annually over a decade starting in 2033, with some peak years potentially climbing even higher.
To fund this expansion without taking on new debt, SSR Mining is utilizing its own balance sheet, supported by recent divestments designed to shift its focus toward the Americas. Earlier this year, the firm generated substantial liquidity by selling most of its interest in Turkey’s Copler gold mine for 1.5 billion dollars. As part of this transition, non core exploration properties previously held by Roxmore will be spun off into a separate entity funded with 10 million dollars in cash and shared between both companies’ stakeholders.
