Turkey Investigates Deadly Mine Disaster as Lawsuit Filed Against SSR Mining

Turkey's Meclis Araştırma Komisyonu, a parliamentary investigation committee, has convened to investigate the recent mine disaster in İliç, Erzincan, which left 9 workers trapped under debris. The committee, led by AK Parti Antalya MP Atay Uslu, aims to identify the causes of the disaster at the Çöpler Altın Madeni gold mine and determine measures to prevent similar incidents in the future.

Why this matters: The investigation into the mine disaster highlights the need for improved safety measures and regulations in the mining industry, which can have far-reaching implications for workers' lives and the environment. Furthermore, the lawsuit against SSR Mining Inc. sets a precedent for holding companies accountable for their actions, which can impact the way businesses operate and prioritize safety in the future.

The committee will conduct a 2-day investigation in Erzincan, including a briefing at the Erzincan Governor's Office and a visit to the crisis center. They will also meet with mine workers and the families of the trapped miners. The investigation will focus on the employer's inadequate crisis management, including the failure to evacuate workers from the area despite warning signs of a potential landslide.

Committee Chairman Atay Uslu stated, "We will investigate the negligence process, but our main goal is to make mining safer. If we can achieve this, we will have contributed to a correct legal process and a correct legal infrastructure." Bekir Aktürk, Ministry of Labor and Social Security's Guidance and Inspection Board Director, noted, "The employer failed to manage the emergency situation adequately. Despite detecting cracks in the heap and observing movements, they did not evacuate all workers from the area."

Key findings from the investigation so far reveal that the heap leach construction did not comply with the project plan, and the solution used in the heap leach may have reduced its stability. The employer failed to take necessary measures to prevent the landslide, including not evacuating workers, not closing the open pit area entrance, not stopping work in the heap leach area, and not effectively communicating risks to workers. The committee aims to preparea draft lawto improve mining safety as the investigation continues.

In a related development, the law firm Faruqi & Faruqi, LLP is investigating potential claims against SSR Mining Inc. (NASDAQ: SSRM), the owner of the Çöpler mine, on behalf of investors. The complaint alleges that SSR Mining and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose inadequate safety measures, unsafe mining practices, and misleading statements about its business and operations. On February 13, 2024, following news of the disaster, SSR Mining's stock fell $5.22 per share, or 53.7%, to close at $4.50 per share. Investors who suffered losses exceeding $75,000 are encouraged to contact the law firm by the May 17, 2024 lead plaintiff deadline.

The İliç mine disaster, which occurred on February 13, 2024, has resulted in the suspension of operations at the Çöpler mine and left at least nine miners missing. As the investigation by Turkey's parliamentary committee and the lawsuit against SSR Mining proceed, the focus remains on uncovering the causes of the tragedy and ensuring safer mining practices to prevent similar incidents in the future.

Key Takeaways

• Turkey's parliamentary committee investigates İliç mine disaster, seeking to improve mining safety.
• 9 workers trapped after landslide at Çöpler Altın Madeni gold mine in Erzincan.
• Employer's inadequate crisis management, including failure to evacuate workers, under scrutiny.
• Lawsuit against SSR Mining Inc. alleges false statements, inadequate safety measures, and misleading business practices.
• Investigation aims to prevent similar incidents, improve mining regulations, and hold companies accountable.