Intermediate gold miner SSR Mining (TSX:SSRM,NASDAQ:SSRM,ASX:SSR) wrapped up 2024 with the news that its Marigold mine has produced 5 million ounces of the yellow metal over its 35 year life.
According to the company, Marigold achieved the record on Monday (December 30).
“Producing five million ounces of gold over 35 years of continuous operations is a testament to the quality of the Marigold mine and its team,’ said Executive Chairman Rod Antal in SSR Mining’s release.
Marigold was acquired by SSR Mining in April 2014 and has since produced more than 2 million ounces of the yellow metal. In 2023, the mine achieved an annual gold production record of 278,000 ounces.
“In 2024, we targeted approximately AU$10 million in growth expenditures at Marigold as we continue to invest meaningfully in mine life extension opportunities at the mine, including at the Buffalo Valley project,” Antal continued.
Gold doré bars produced at Marigold are shipped by SSR Mining to a third-party refinery.
The mine’s mineral reserves still stood at nearly 3 million ounces as of December 2023.
Located in Nevada, US, Marigold is “a large run-of-mine heap leach operation with several open pits, waste rock stockpiles, leach pads, a carbon absorption facility, and a carbon processing and gold refining facility.”
According to SSR Mining’s website, its current life is nine years with potential for extension. “We look forward to many more years of safe, responsible and successful operations at Marigold going forward,’ Antal added.
On December 6, SSR Mining announced the acquisition of the Cripple Creek & Victor gold mine in Colorado, aiming to diversify its portfolio and create the third largest US gold producer.
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
