The Canadian Malartic complex in northwestern Quebec is one of the largest gold mining operations in the world. It consists of two mines: the Canadian Malartic mine, one of Canada’s largest open-pit gold mines; and the Odyssey mine, set to become the largest underground gold mine in Canada.
Open-pit mining in the Canadian Malartic pit was completed in 2023 and is continuing in the adjacent Barnat pit, which is expected to operate through 2029. The Canadian Malartic pit is now being used for in-pit tailings disposals. The new underground Odyssey mine, where mining began from the Odyssey South zone in 2023, is expected to produce 8.5 million ounces of payable gold from 2023 to 2042.
Both open-pit and underground ores are processed at the 60,000-tpd-capacity Canadian Malartic mineral processing facility, using a crushing-grinding process to recover gold and silver. The Odyssey mine is expected to use approximately one third of the mill capacity, leaving approximately 40,000 tpd of excess capacity starting in 2028. The Company is assessing opportunities to leverage that excess capacity with its “Fill the Mill” strategy.
On March 18, 2025, the Company acquired the Marban Alliance property, which is adjacent to the Canadian Malartic complex, through completion of the full acquisition of O3 Mining Inc. The Marban deposit on the Marban Alliance property is an advanced gold exploration project that could potentially support a satellite open pit mine to feed the Canadian Malartic mill in the medium-term as part of the Company's “Fill the Mill” strategy. Marban is expected to contribute approximately 15,000 tpd and an average of approximately 130,000 ounces of gold per year to the Canadian Malartic complex over a span of 9 years, starting as early as 2033.