SSR MINING INC

Çöpler Incident

On February 13, 2024, SSR Mining Inc. and its subsidiaries (collectively, “SSR Mining,” or the “Company”) suspended all operations at its Çöpler property, in Türkiye, as a result of a significant slip on the heap leach pad (the “Çöpler Incident”). Nine employees lost their lives in connection with the Çöpler Incident. The Company continues to support the employees, families, and community members impacted by the Çöpler Incident.

In partnership with the Turkish authorities, the Company has worked to remediate the site. As of December 31, 2024, all of the displaced heap leach material in the Sabırlı Valley has been moved to temporary storage locations. As part of the remediation work, the heap leach pad will be permanently closed, and heap leach processing will no longer take place at Çöpler. Public statements from Turkish government officials have consistently confirmed that there has been no recordable contamination to local soil, water or air in the sampling locations resulting from the displaced heap leach material.

Following the Çöpler Incident, the Company commissioned Call & Nicholas, Inc. (“CNI”), an international mining consulting firm that specializes in geological engineering, geotechnical engineering, and hydrology, to conduct an independent review of the heap leach failure at Çöpler. After analysis of the engineering design, construction, and operation of the heap leach facility, and comprehensive reverse-engineering of the failure, CNI determined that the most likely cause of the Çöpler Incident was a deeply-rooted flaw in the third-party engineered design of the heap leach pad. The review found that in the third-party engineered design, the assessment of the test data overestimated the shear strength properties of the liner system at the base of the heap leach, which inflated the calculated factor of safety values in the third-party engineered design. This error resulted in insufficient shear strength along the liner interface to support the as-designed heap leach facility. CNI also determined that in all material respects, the heap leach pad construction and operation was carried out in conformance with the issued-for-construction engineered design parameters. In addition, CNI’s review did not find any substantiation that excess water, ground vibrations from blasting, nor stacking beyond the design caused the event.

As previously disclosed, on August 20, 2024, a local court issued a decision cancelling the Çöpler mine’s environmental impact assessment, which was approved in 2021 (the “2021 EIA”). The Turkish Ministry of Environment, Urbanization and Climate Change filed an appeal of the decision, and the Company filed a simultaneous intervener appeal as well. On February 11, 2025 the Turkish Council of State affirmed the finding of the lower court. As previously disclosed, with the cancellation of the 2021 EIA, the operating guidelines at Çöpler revert to those outlined in the Company’s prior Environmental Impact Assessment, which was issued in 2014 (the “2014 EIA”). Among other operating considerations, the 2014 EIA prescribes a lower throughput rate for the sulfide plant operations of 6,000 tonnes per day, as compared to 9,000 tonnes per day under the 2021 EIA.

SSR Mining continues to work closely with the relevant authorities to advance the restart of the Çöpler mine. When all necessary regulatory approvals, including the operating permits, are reinstated, it is anticipated that initial operations at Çöpler could restart within 20 days and would consist of processing a combination of stockpiled ore and ore mined from Çakmaktepe, while the remediation work continues. At this time, we are not able to estimate or predict when and under what conditions we will resume operations at Çöpler.

For further information on the Çöpler mine, including its ownership structure, see Item 2. Properties under the heading “Çöpler Property, Erzincan Province, Türkiye.” Çöpler constitutes a single reporting segment for the Company, as do each of the Company's three other mines, Marigold, Puna, and Seabee. For financial information of the Company’s segments for the years ended December 31, 2024, 2023 and 2022, see Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations and Note 5 to the Consolidated Financial Statements.

See Item 1A. Risk Factors for additional information.