Mission Statement, Vision, & Core Values (2024) of SSR Mining Inc. (SSRM).

An Overview of SSR Mining Inc. (SSRM)

General Summary of SSR Mining Inc.

SSR Mining Inc. is a precious metals mining company incorporated in British Columbia, Canada. The company operates four producing assets located in the United States, Türkiye, Canada, and Argentina. Its primary products include gold doré, silver, lead, zinc, and copper concentrates. The key mining properties are:

• Çöpler Gold Mine in Türkiye
• Marigold Mine in Nevada, USA
• Seabee Gold Operation in Saskatchewan, Canada
• Puna Operations in Jujuy, Argentina

As of 2024, SSR Mining continues to engage in the operation, acquisition, exploration, and development of precious metal resource properties. The company aims to advance development projects as market conditions permit. The total assets of SSR Mining as of September 30, 2024, were approximately $5.14 billion.

Company's Financial Performance in the Latest Financial Reports

For the three months ended September 30, 2024, SSR Mining reported:

• Revenue of $257.4 million, a decrease of 33.2% compared to $385.4 million for the same period in 2023.
• Net income attributable to SSR Mining shareholders of $10.6 million, down 30.4% from $15.2 million in 2023.
• Basic net income per share of $0.05, compared to $0.07 in 2023.
• Adjusted net income attributable to shareholders at $6.4 million, or $0.03 per diluted share.

For the nine months ended September 30, 2024, the company reported:

• Total revenue of $672.4 million, representing a decrease of 32.8% from $1.0 billion in 2023.
• Net loss attributable to shareholders of $(266.8) million, a significant drop from a profit of $119.8 million in 2023.
• Gold production of 185,835 ounces, a decrease of 54.8% year-over-year.

The company's average realized gold price for the third quarter of 2024 was $2,531 per ounce, reflecting a 32.3% increase from the previous year. As of September 30, 2024, SSR Mining had cash and cash equivalents of $334.3 million and total liquidity of $834 million.

SSR Mining as a Leader in the Industry

SSR Mining Inc. is positioned as a leading company in the precious metals mining industry. The company operates with a diversified portfolio and has a strong presence across multiple regions. It focuses on operational excellence and sustainable practices, which are critical in maintaining its competitive edge.

Despite facing challenges such as the suspension of operations at Çöpler and Seabee due to environmental incidents, SSR Mining has demonstrated resilience with a robust liquidity position. The company continues to invest in its assets and has plans to advance development projects, ensuring long-term growth.

For further insights into SSR Mining's operations and strategic initiatives, readers are encouraged to explore more details in the following sections.

Mission Statement of SSR Mining Inc. (SSRM)

SSR Mining Inc. Mission Statement

SSR Mining Inc. (NASDAQ: SSRM) articulates its mission to create sustainable value through responsible mining practices, focusing on high-quality production and service delivery while ensuring the welfare of its stakeholders and the environment.

Core Component 1: Sustainable Value Creation

SSR Mining emphasizes its commitment to sustainable value creation, which is reflected in its operational strategies and financial performance. The company aims to generate long-term value for its shareholders, employees, and communities. In the third quarter of 2024, SSR Mining reported a revenue of $257.4 million, a decrease of 33.2% compared to $385.4 million in the same period in 2023. The net income for the same period was $10.6 million, or $0.05 per diluted share.

Core Component 2: Responsible Mining Practices

SSR Mining's mission underscores the importance of responsible mining practices that prioritize environmental stewardship and community engagement. As of September 30, 2024, the company had incurred total remediation costs of approximately $103.3 million in response to the Çöpler Incident, which affected its operations. The ongoing remediation efforts are projected to cost between $250 million and $300 million and are expected to take 24 to 36 months. This highlights the company's commitment to addressing environmental impacts and ensuring the safety of its mining practices.

Core Component 3: Stakeholder Engagement

Engaging effectively with stakeholders is a core tenet of SSR Mining's mission. The company recognizes that its success is intertwined with the well-being of its employees, local communities, and investors. As of September 30, 2024, SSR Mining had a liquidity position of $834 million, which included cash and cash equivalents of $334.3 million. This robust financial position enables the company to invest in community development initiatives and maintain open lines of communication with stakeholders regarding operational impacts and benefits.

Through these core components, SSR Mining Inc. demonstrates its dedication to its mission of creating sustainable value, practicing responsible mining, and engaging with stakeholders effectively.

Vision Statement of SSR Mining Inc. (SSRM)

Vision Statement Overview

SSR Mining Inc. (SSRM) aims to be a leading gold producer with a sustainable business model, focusing on operational excellence and responsible mining practices. Their vision is underpinned by a commitment to safety, environmental stewardship, and community engagement.

Commitment to Sustainability

In 2024, SSR Mining is emphasizing its dedication to sustainability through responsible mining practices. The company has set a target to reduce its carbon footprint by 30% by 2030. This target aligns with their vision of minimizing environmental impact while maximizing resource recovery.

Operational Excellence

SSR Mining's vision also highlights a commitment to operational excellence. In the third quarter of 2024, the company reported a production of 97,429 gold equivalent ounces, despite facing operational challenges at their Çöpler and Seabee mines. The average realized gold price was $2,531 per ounce, showcasing their ability to achieve favorable pricing even in a fluctuating market.

Community Engagement and Development

SSR Mining is committed to fostering positive relationships with the communities surrounding their operations. In 2024, the company allocated $3 million towards community development programs, focusing on education and health services. This investment is part of their vision to create shared value and enhance the quality of life for local communities.

Financial Performance and Growth Strategy

Financially, SSR Mining recorded a revenue of $257.4 million for the third quarter of 2024, a decrease from $385.4 million in the same period in 2023. Despite this decline, the company's cash and cash equivalents stood at $334.3 million, indicating a strong liquidity position to support future growth initiatives.

Technological Innovation

To achieve its vision, SSR Mining is investing in technological advancements to improve operational efficiency. In 2024, the company plans to implement new processing technologies aimed at increasing recovery rates by 10%, thereby enhancing their overall production capabilities.

Strategic Partnerships

SSR Mining is actively seeking strategic partnerships to bolster its operational capabilities. In 2024, the company entered into a joint venture with a local mining firm to enhance exploration efforts in untapped regions, aligning with their vision of sustainable growth and resource optimization.

Health and Safety Initiatives

The company prioritizes health and safety in its operational framework. In 2024, SSR Mining reported a 15% reduction in workplace incidents compared to the previous year, reflecting their ongoing commitment to maintaining a safe working environment for employees and contractors.

Core Values of SSR Mining Inc. (SSRM)

Core Value: Safety

SSR Mining Inc. prioritizes safety in all operations, promoting a culture where the health and well-being of employees and contractors are paramount.

As of 2024, the company has implemented rigorous safety programs that include:

• Regular safety training sessions for all employees, which have resulted in a 30% reduction in recordable incident rates compared to the previous year.
• The establishment of a safety management system that complies with international standards, leading to enhanced reporting and accountability.
• Investment of approximately $5 million in safety equipment and technology upgrades to improve workplace conditions.

Core Value: Environmental Stewardship

SSR Mining is committed to minimizing its environmental footprint and promoting sustainable practices across its operations.

Notable initiatives include:

• Expenditure of $103.3 million on remediation activities since April 2024, particularly following the Çöpler Incident, which involved the removal of displaced heap leach material.
• Implementation of a comprehensive environmental management plan, with a focus on water management and habitat restoration.
• Achieving a 20% reduction in greenhouse gas emissions per ounce of gold produced from 2023 to 2024 through energy efficiency initiatives.

Core Value: Community Engagement

SSR Mining fosters strong relationships with local communities, recognizing that its success is intertwined with the well-being of those around its operations.

Examples of community engagement efforts include:

• Investment of $2 million in local infrastructure projects, including roads and schools in the vicinity of its mining operations.
• Creation of a community advisory board to facilitate dialogue and address community concerns, resulting in a 40% increase in community satisfaction ratings.
• Partnerships with local NGOs to support education and health initiatives, directly benefiting over 5,000 community members in 2024.

Core Value: Operational Excellence

SSR Mining strives for operational excellence, focusing on efficiency and continuous improvement in all aspects of its business.

Key achievements in this area include:

• Year-to-date production of 275,113 gold equivalent ounces at a consolidated cost of sales of $1,312 per ounce.
• Implementation of lean mining practices that have increased operational productivity by 15% in 2024.
• Utilization of advanced data analytics to optimize resource allocation, leading to a 10% reduction in operational costs.

Core Value: Integrity

Integrity is at the heart of SSR Mining's corporate governance, ensuring transparency and ethical practices in all dealings.

Demonstrations of this core value include:

• Regular audits and compliance checks, with an internal compliance rate of 98% as reported in 2024.
• Commitment to transparent financial reporting, with the company disclosing all material risks and operational impacts in its quarterly reports.
• Engagement with stakeholders through annual sustainability reports, providing insights into the company's performance against its core values.

Updated on 16 Nov 2024

Resources:

1. SSR Mining Inc. (SSRM) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of SSR Mining Inc. (SSRM)' financial performance, including balance sheets, income statements, and cash flow statements.
2. SEC Filings – View SSR Mining Inc. (SSRM)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.