The transaction includes a $100 million upfront cash payment and up to $175 million in milestone-based payments. Of this, $87.5 million will be payable upon the approval of an amended permit for the CC&V Cresson mine, filed by Newmont earlier this year, to extend the mine’s life by adding leach pad capacity and making operational adjustments. Another $87.5 million will be contingent on regulatory relief related to the Carlton Tunnel permitting requirements.
SSR and Newmont have also agreed to share responsibility for closure costs at CC&V. If closure costs exceed $500 million, SSR will fund 10% of the incremental costs, with Newmont covering the remaining 90%.
The transaction is expected to close in the first quarter of 2025.
CC&V is anticipated to add approximately 170,000 ounces of annual gold production to SSR Mining’s platform. Combined with the Marigold mine, SSR’s total US gold production is expected to…
