SSR Mining (NASDAQ: SSRM) (TSX: SSRM) officially announced plans to restart operations at its Seabee Gold Operations, following a temporary shutdown due to wildfires in the region. Located in Northern Saskatchewan, Canada, the Seabee Gold Operations is one of the prominent assets of SSR Mining, which has been critically affected by the wildfires last summer.
The Seabee Gold Operations, renowned for their long-standing and sustainable gold production, found themselves facing an abrupt shutdown earlier in 2021 due to wildfires sweeping across Northern Saskatchewan. This environment-related shutdown severely affected the production estimates of SSR Mining, thereby affecting its financial projections.
Having assessed the situation on-ground, SSR Mining now sees an opportunity of restoring operations at Seabee Gold Operations. This has come after an exhaustive exercise of assessing the damages caused by the wildfires, analysing the safety and feasibility of the site for workers, and charting out an actionable course of revival, which considers all environmental and safety protocols in light of the wildfire destruction.
The company stated that it has completed an extensive risk assessment related to wildfire damage and potential implications for site safety. Following the evaluation, SSR Mining has decided to initiate the revival process, for its Seabee Gold Operations, which will occur in stages. The stages involve making the area safe for workers to return, rebuilding and restoring damaged infrastructure, and most importantly, having all loss prevention and safety measures in place to handle similar situations in the future.
SSR Mining remains committed to its goal of reducing any environmental impact from its activities. A key part of the restart plan is to restore and rehabilitate the natural site and work towards a more resilient set-up that can better withstand wildfires, incorporating preventative measures, and promoting worker safety. Future gold mining operations are expected to follow strict environmental and safety protocols to ensure the site’s long-term sustainability.
Despite the challenging phase SSR Mining has had to navigate due to the unforeseen shutdown, the company is highly optimistic about the restart. According to the information available, the gold properties at Seabee remain extensive. The projected gold outputs are expected to make a significant contribution towards the company’s revenue once the operations return to full capacity post the revival plan.
The planned reinvestments in the Seabee Gold Operations are also anticipated to provide a much-needed boost to the local economy of Northern Saskatchewan. This comes as a relief to the local communities heavily dependent on this industry for their livelihood and continued community growth.
In conclusion, SSR Mining’s initiative to restart the Seabee Gold Operations shows the company’s resilience in bouncing back from sudden adversities. This news, highly anticipated by all stakeholders, including investors, employees, and local communities, reassures them about the company’s future and commitment to long-term sustainability and growth.