SSR MINING INC.
For the period ended Jun 30, 2026. Filed Aug 4, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 4, 2026
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4. Held for Sale and Discontinued Operations
- HELD FOR SALE AND DISCONTINUED OPERATIONS
The following table presents the results of operations for discontinued operations, as reported in the Company’s Condensed Consolidated Statements of Operations for the periods presented (in thousands):
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Operating costs and expenses: | ||||
| Depreciation, depletion, and amortization | $65 | $33 | $140 | $65 |
| Exploration and evaluation | 519 | 747 | 1,381 | 1,651 |
| Reclamation and remediation costs | 594 | 63,541 | 1,486 | 64,156 |
| Loss on divestiture of Çöpler (1) | (798) | — | 337,431 | — |
| Loss on deconsolidation of Artmin | 17,474 | — | 17,474 | — |
| Care and maintenance (2) | 23,202 | 36,714 | 59,843 | 72,509 |
| Other operating expense (income), net | 879 | (41,843) | 4,824 | (39,265) |
| Operating income (loss) | (41,935) | (59,192) | (422,579) | (99,116) |
| Other income (expense): | ||||
| Interest expense | (780) | (1,642) | (2,395) | (3,219) |
| Other income (expense) | (1,156) | 213 | (961) | 275 |
| Foreign exchange gain (loss) | (631) | 25 | (3,323) | (1,397) |
| Total other income (expense) | (2,567) | (1,404) | (6,679) | (4,341) |
| Income (loss) before income and mining taxes | (44,502) | (60,596) | (429,258) | (103,457) |
| Income and mining tax benefit (expense) | — | 9,051 | 19,297 | 22,013 |
| Equity income (loss) of affiliates | (77) | (76) | (442) | (286) |
| Net income (loss) from discontinued operations | (44,579) | (51,621) | (410,403) | (81,730) |
| Net loss (income) from discontinued operations attributable to non-controlling interest | 4,851 | 9,713 | 13,553 | 14,048 |
| Net income (loss) from discontinued operations attributable to SSR Mining shareholders | $(39,728) | $(41,908) | $(396,850) | $(67,682) |
(1)A total net loss of $337.4 million was recognized on the Çöpler divestiture since designation as held for sale in the first quarter of 2026, including a $338.2 million write-down of Çöpler to fair value less costs to sell in the first quarter of 2026 and a $0.8 million loss reversal in the second quarter of 2026.
(2)For thethree months ended June 30, 2026 and 2025, care and maintenance expense represents $23.2 million and $21.8 million, respectively, of direct costs, excluding costs associated with environmental reclamation and remediation, andnil and $14.9 million, respectively, of depreciation incurred during the suspension of operations at Çöpler.
For thesix months ended June 30, 2026 and 2025, care and maintenance expense represents $44.9 million and $42.4 million, respectively, of direct costs, excluding costs associated with environmental reclamation and remediation, and $14.9 million and $30.1 million, respectively, of depreciation incurred during the suspension of operations at Çöpler.
The following table presents the major classes of assets and liabilities classified as held for sale, as reported in the Company’s Condensed Consolidated Balance Sheets as of June 30, 2026 and December 31, 2025 (in thousands):
| June 30, 2026 | December 31, 2025 (1) | |
|---|---|---|
| Assets held for sale: | ||
| Cash and cash equivalents | $— | $19,273 |
| Trade and other receivables | — | 3,102 |
| Equity method investments | — | 142 |
| Inventories | — | 27,522 |
| Prepaids and other current assets | — | 11,824 |
| Prepaids, related party | — | 23,549 |
| Total current assets held for sale | — | 85,412 |
| Other receivables, related party | 158,656 | — |
| Mineral properties, plant and equipment, net | — | 3,108,839 |
| Inventories | — | 274,919 |
| Equity method investments | 105,468 | — |
| Other non-current assets | — | 6,867 |
| Total assets held for sale | $264,124 | $3,476,037 |
| Liabilities held for sale: | ||
| Accounts payable | $— | $15,449 |
| Accrued liabilities and other | — | 16,005 |
| Reclamation and remediation liabilities | — | 25,379 |
| Finance lease liabilities | — | 5,012 |
| Current portion of debt, related party | — | 11,000 |
| Total current liabilities held for sale | — | 72,845 |
| Debt, related party | — | 51,419 |
| Finance lease liabilities | — | 76,344 |
| Reclamation and remediation liabilities | — | 207,081 |
| Deferred income tax liabilities | — | 162,435 |
| Contingent consideration liabilities | — | 30,774 |
| Other non-current liabilities | — | 3,063 |
| Total liabilities held for sale | $— | $603,961 |
| Non-controlling interest | $— | $806,481 |
(1)The consolidated assets as of December 31, 2025 include $3,467.5 million of assets of variable interest entities (“VIEs”) that can only be used to settle the obligations of the VIEs. As of December 31, 2025, the assets include Cash and cash equivalents of $15.4 million; Trade and other receivables of $3.0 million; Inventories, current of $27.5 million; Prepaids and other current assets of $12.4 million; Prepaids, related party of $23.5 million; Mineral properties, plant and equipment, net of $3,105.9 million; Inventories, non-current of $274.9 million; and Other non-current assets of $4.9 million. The consolidated liabilities as of December 31, 2025 include $570.3 million of liabilities of VIEs whose creditors have no recourse to the Company. As of December 31, 2025, the liabilities include Accounts payable of $15.3 million; Accrued liabilities and other of $13.8 million; Reclamation and remediation liabilities, current of $25.4 million; Finance lease liabilities, current of $5.0 million; Current portion of debt, related party of $11.0 million; Debt, related party, non-current of $51.4 million; Finance lease liabilities, non-current of $76.3 million; Reclamation and remediation liabilities, non-current of $207.1 million; Deferred income tax liabilities of $162.4 million; and Other non-current liabilities of $2.6 million.
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