Newmont has agreed to sell its Cripple Creek & Victor operation in Colorado to SSR Mining for up to $275 million in cash consideration. The mine is expected to add 170,000 ounces in annual gold production to SSR’s platform.
“The acquisition of the Cripple Creek & Victor Gold mine represents a rare opportunity to add a high-quality producing asset in a Tier-1 jurisdiction at an accretive valuation. CC&V is a proven operation with excellent potential for upside, and expands our U.S.-based platform to an expected 300,000 – 400,000 ounces of average annual gold production, positioning SSR Mining as the third largest gold producer in the United States,” Rod Antal, executive chairman of SSR Mining, said.
“This acquisition ensures our portfolio of both producing and development assets is well balanced and provides our company with a diversified and long-lived free cash flow focused platform comprised of six key assets.”
The transaction is expected to close in the first quarter of 2025, upon satisfaction of preclosing conditions and the receipt of all required regulatory approvals.
CC&V is located approximately 100 miles southwest of Denver. In 2021, operations were transitioned to leach only, providing stable production for the remainder of the mine life.
Source: SSR Mining