In a strategic maneuver following challenges, SSR Mining, the Canadian gold miner, welcomes Michael Sparks as its new Chief Financial Officer (CFO). This appointment comes amid broader leadership changes, signaling a shift in roles to better navigate and assess the impacts of recent incidents, including the Copler mine mishap.
Last month, SSR Mining faced a setback when a landslide at its Copler mine in Turkey led to the disappearance of at least nine miners. In response, the company suspended its quarterly dividend payment and share purchase plan. The subsequent changes in the executive leadership team, including the appointment of Michael Sparks as CFO, aim to realign accountabilities and provide robust support for the business in the aftermath of the Copler incident.
Executive Chairman Rod Antal emphasized the need for the leadership adjustments, stating, “The changes to the roles and responsibilities of our executive leadership team will provide an opportunity to realign accountabilities to better support the business, particularly as the company continues to navigate and assess the impacts of the Copler incident.”
The challenges for SSR Mining extended further when its environmental permit for a gold mine in eastern Turkey was revoked in February. Operations at the Copler mine remain suspended, with the company undertaking a comprehensive assessment of potential impacts on business, cash flows, financial conditions, and results.
Post the Copler incident, SSR Mining retracted its previously issued 2024 and long-term outlook for the Coupler mine and its Turkey operations. The latest CFO appointment and broader leadership changes underscore the company’s commitment to addressing challenges head-on and strategically realigning its leadership structure.
