Canadian Malartic Complex

Malartic, northwestern Quebec, Canada

The Canadian Malartic complex, located in the town of Malartic, 25 km west of Val-d’Or in northwestern Quebec, is the second-largest operating gold mine in Canada and one of the world’s largest gold mining operations. It is comprised of the Canadian Malartic open-pit mine and processing facility, and the Odyssey underground mine. The open-pit mine and processing plant built by Osisko Mining Corp. began commercial production in May 2011. In June 2014, Agnico Eagle and Yamana Gold acquired Osisko and created Canadian Malartic GP (“the Partnership”) to own and operate the mine with Agnico Eagle and Yamana each having a 50% ownership interest in the Partnership. The acquisition by Agnico Eagle of Yamana Gold's Canadian assets on March 31, 2023 resulted in the Company owning 100% of the Canadian Malartic Complex. Under the current mine plan, the Company expects the complex will be in production through 2042. 

Key Facts

Mine type

Open pit and underground

2023 production

603,955 oz gold
311,000 oz silver
Production reflects Agnico Eagle's 50% interest in the Canadian Malartic complex up to and including March 30, 2023 and 100% thereafter.


2023 production costs

$771/oz gold

2023 total cash costs

$824/oz gold

Gold reserves
as at December 31, 2023

7,919,000 oz
See 2023 year end Mineral Reserves and Mineral Resources statement for additional detail.

2024 production guidance

630,000 oz gold

2024 total cash costs guidance

$926/oz gold

Mine life

2029 (Open pit)

2042 (Underground)

Mine Production

2023 Output

(Production reflects Agnico Eagle's 50% interest in the Canadian Malartic complex up to and including March 30, 2023 and 100% thereafter)

Employees

1,175