(TELLER COUNTY, Colo.) — The Cripple Creek and Victor Gold Mine operation has been sold to a Denver-based company for up to $275 million in cash.
On Friday, Dec. 6, the mine’s current owner Newmont Corporation announced that Denver-based SSR Mining Inc. would be taking over the largest gold mine in Colorado located between Cripple Creek and Victor.
“We are excited to announce the continuation of our divestment program to streamline the Newmont portfolio as the leading operator of Tier 1 gold and copper assets,” said Tom Palmer, Newmont’s President and Chief Executive Officer. “We are confident that SSR has the capability to deliver the next phase of life for CC&V, the employees who work there, and local stakeholders.”
The mine in Teller County would mark the sixth addition to SSR Mining’s projects. The company owns Marigold in Nevada and four other mines in Argentina, Canada, and Turkey.
According to SSR Mining, $100 million will be paid at the transaction’s closing, and up to $175 million will be milestone-based payments. The transaction is expected to close in the first quarter of 2025.
