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SSR Mining's Q3 gold production takes hit from forest fires, lower grades

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SSR Mining's Q3 gold production takes hit from forest fires, lower grades

Third-quarter gold production from SSR Mining Inc.'s Seabee mine in Canada has been impacted by nearby forest fires, driving total gold output down about 25.6% compared to the prior quarter.

The Vancouver-based miner produced 56,757 ounces from its Seabee mine and Marigold mine in the U.S., compared to 76,248 ounces in the second quarter.

SSR Mining said Oct. 12 that underground mining activities at Santoy, part of the Seabee operation, experienced interruptions during the third quarter as a result of forest-fire-related power outages and smoke ingress.

Seabee production slipped 12.7% quarter over quarter to 18,058 ounces, while Marigold output tumbled 30.3% to 38,699 ounces due to lower grades.

Gold sales from Seabee, however, climbed 21.7% to 21,798 ounces due to the bullion inventory accumulated in the previous quarter being sold in the third quarter.

Meanwhile, a decline in grade and recoveries at the Puna operations in Argentina saw silver production drop 20.9% to 1.5 million ounces compared to the prior quarter, but silver sales rose 25.4% to about 2.1 million ounces.

SSR Mining also said that in the third quarter, the company sold 7.9 million of the shares it owns in Pretium Resources Inc. for C$85.4 million. The sale leaves the company with 9.04 million shares or a 4.99% stake.