Silver Standard Resources Inc. said March 27 that its board recommends changing the company's name to SSR Mining Inc.

According to Paul Benson, the miner's president and CEO, the company's current name does not accurately reflect its business, as gold represents about 70% of its revenues.

Silver Standard will seek shareholder approval for the name change at its May 4 annual and special meeting, and if the name change is approved, Silver Standard will also change its Nasdaq Global Market and Toronto Stock Exchange tickers to SSRM.

The timing of the proposed name and ticker changes, along with Silver Standard's corporate rebranding, will be announced at a later date.