Colorado Mine Generated $830 Million in 2025
The Cripple Creek and Victor Gold Mine served as a major economic driver for the Pikes Peak region last year.
Updated on Sept. 30, 2026 in Employment
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In 2025, the Cripple Creek and Victor Gold Mine generated $830 million in economic activity across Colorado. The mining operation, now owned by SSR Mining, also contributed $38 million in state and local tax revenue.
Why it matters
The mine serves as a critical source of high-paying employment in rural areas where such jobs are otherwise scarce. Its ongoing operations and tax contributions provide essential funding for local infrastructure repairs.
The mine produced 153,000 ounces of gold valued at $3,634 per ounce during the 2025 fiscal year. It currently supports 942 jobs across the state, with 438 individuals directly employed at the site.
The players
SSR Mining
This international mining company owns and operates the Cripple Creek and Victor Gold Mine.
Town of Victor
This municipality serves as the local host for the gold mining operations and manages infrastructure funded by mining revenue.
The details
Beyond direct payroll, the mine fuels the local economy by securing long-term utility contracts, such as a 25-year water agreement with the town of Victor. SSR Mining has also invested in environmental oversight by installing three additional air quality monitors to provide continuous data for the area.
Timeline
The mining operation measured its economic impact throughout 2025.
SSR Mining completed its purchase of the mining operation in 2025.
The site officially resumed offering public tours in September 2026.
The proposed permit amendment could extend economic targets through 2050.
Macro View
The mine accounts for more than half of Teller County's annual gross domestic product, mirroring historical cycles where regional economies are tethered to singular extraction industries. This reliance remains a consistent trend compared to past decades of Colorado industrial activity.
The average employee at the mine earns $94,000 annually, significantly impacting household stability for workers commuting from Fremont and El Paso counties. Local residents also benefit indirectly from the tax revenue used to fund regional infrastructure improvements.
The takeaway
Rural regions often depend on major industrial operations to sustain local infrastructure and provide competitive wages. Residents should monitor future permit amendment outcomes as they dictate the long-term viability of these critical regional employers.
Further reading
For more on the state labor market, visit Colorado Employment.
Source note: This article includes information reported by The Colorado Sun.
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