SSR Mining has published a 20-year mine plan for its Marigold gold complex in Nevada, based on reserves 43% larger than at the end of 2025, at 4.6 million ounces. It expects more than 230,000 ounces a year over the next five years.
At a glance
- Life-of-mine production totals 3.34 million ounces, more than 50% above the previous plan.
- SSR plans to invest in fleet and heap leach pad expansions over the next three years.
- SSR separately announced it has agreed to acquire Roxmore Resources.
Background
Marigold, on Nevada's Battle Mountain-Eureka trend, has produced more than 5 million ounces of gold since 1989. It is a heap leach mine, where gold is dissolved from crushed ore piled on lined pads. Together with its Cripple Creek & Victor mine in Colorado, SSR is the third-largest US gold producer.
What happened
SSR Mining released a technical report for the Marigold Gold Complex on October 13, laying out 15 years of active mining and 20 years of total production. The plan increases mineral reserves by 43% from the end of 2025, to 4.6 million ounces, while resources stay essentially unchanged.
"Today's updated life of mine plan reinforces Marigold's position as a premier, multi-decade asset in the United States," executive chairman Rod Antal said.
The plan
SSR expects Marigold to average more than 230,000 ounces a year over the next five years and about 200,000 ounces a year through 2040. Life-of-mine production totals 3.34 million ounces, more than 50% more than the previous mine plan.
Over the next three years SSR plans to invest in fleet and heap leach pad expansions. The peak fleet will be 45 haul trucks, six shovels and two loaders, enough to run Marigold and the nearby Buffalo Valley deposit at the same time.
A separate deal
SSR also announced on Monday that it has agreed to acquire Roxmore Resources, in a deal Investing.com valued at $464 million.
Our read
Outlook: neutral. A longer mine life adds future supply gradually and does not move gold prices.
What to watch
- Investment in Marigold's fleet and heap leach pads.
- Closing of the Roxmore acquisition.
- Development of the Buffalo Valley deposit.
For information only, not investment advice.
Gold price in India
metalscost.com India reference price as of 2026-10-24.
Detailed analysis
Timeline
- 1989: Marigold begins operating.
- 2026-10-13: SSR publishes a 20-year mine plan for Marigold.
Supply Drivers
A 43% larger reserve extends US gold supply from Marigold through 2040.
Mining Production
Marigold is expected to average more than 230,000 ounces a year for five years.
What could lift prices
- Reserves rose 43% and mine life now runs 20 years.
- Life-of-mine production is more than 50% higher than the previous plan.
What could weigh on prices
- The plan requires investment in new equipment and leach pads.
Country impact
| Country | Impact | Reason |
|---|---|---|
| United States | Medium | One of its larger gold mines will now run through 2040. |
Industry impact
| Industry | Effect | Reason |
|---|---|---|
| Gold Mining | Positive | A major US gold mine has extended its life. |
Who gains, who loses
- SSR Mining: Marigold's longer life supports its US production base.
Other ways this could play out
- If gold prices stay high, SSR could extend Marigold further from its resources.
- If costs rise, the heavier stripping in the plan could squeeze margins.
Price risks
- Gold prices affect the plan's economics.
- Heap leach recovery depends on ore and weather.
Technical view
Price is trading below both its 20-period and 50-period moving averages, a bearish alignment.
Computed from metalscost.com's own stored price history.
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