Mining

SSR Mining Acquires Roxmore Resources in Strategic Nevada Expansion

October 16, 2026
4
3 min read

SSR Mining is set to enhance its Nevada operations through the acquisition of Roxmore Resources and its Converse gold project.

SSR Mining (TSX:SSRM, NASDAQ:SSRM) has announced an exciting move to expand its operations in Nevada by acquiring Roxmore Resources (TSX:RM) in a cash-only deal. This acquisition not only strengthens SSR Mining's position as the third-largest gold producer in the United States, but it also integrates the Converse gold project into their existing portfolio.

Strengthening Nevada Operations

The Converse gold project, located just six kilometers from SSR Mining’s Marigold Complex on the Battle Mountain-Eureka Trend, presents a significant opportunity for growth. SSR Mining anticipates this new acquisition will bring synergistic benefits worth more than $200 million throughout the project's lifespan by streamlining operations and reducing overlapping administrative expenses.

Strategic Insights from Leadership

According to Executive Chairman Rod Antal, this acquisition is a strategic fit. He stated, “The acquisition of Roxmore and its Converse gold project represents a compelling opportunity to add a high-quality multi-million ounce gold resource next door to our Marigold mine at an attractive valuation.” Antal emphasized that SSR Mining's operational and financial efficiencies would be greatly enhanced by developing an asset so close to the existing mine.

Resource Potential

The Converse project boasts impressive resources, with 103 million tons classified as Indicated containing 2.2 million ounces of gold and an additional 218 million tons classified as Inferred, holding 3.0 million ounces. This resource base is expected to contribute an annual output of between 150,000 and 170,000 ounces of gold, with mine operations projected to extend for over a decade, starting production in 2033.

Financial Details and Future Plans

SSR Mining estimates that initial construction costs for Converse will range from $800 million to $900 million, although significant capital expenditures are not expected until the early 2030s. Additionally, any non-core exploration properties owned by Roxmore will be separated into a newly formed company, which will be financed with $10 million in cash. This new entity will be predominantly owned by previous Roxmore shareholders, while SSR Mining will retain a small stake.

Long-Term Output Goals

With the addition of Converse, SSR Mining projects that its US operation will produce between 350,000 and 400,000 ounces of gold annually from 2033 through 2042, with peak production years anticipated to exceed 450,000 ounces. This compilation of production from Marigold and the Cripple Creek and Victor mine in Colorado further solidifies SSR Mining’s leadership in the gold sector.

Funding the Acquisition

The entire Roxmore acquisition will be financed using SSR Mining’s existing financial resources. Recently, the company strengthened its cash reserves by agreeing to sell its 80 percent share in the Çöpler gold mine in Turkey to Cengiz Holding A.S. for a substantial $1.5 billion in cash. This transaction is part of SSR's strategic realignment towards projects within the Americas.