Canadian Malartic

Malartic, northwestern Quebec, Canada

Canadian Malartic, 25 km west of Val-d’Or in northwestern Quebec, is the largest operating gold mine in Canada. The large open-pit mine and 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 that owns and operates the mine. Agnico Eagle and Yamana each have an indirect and direct 50% ownership interest in Canadian Malartic GP.

Key Facts

Mine Type

Open Pit

2020 production (Agnico Eagle’s 50% share)

284,317oz gold

2020 production costs

$736/oz gold

2020 total cash costs

$723/oz gold

Gold reserves (Agnico Eagle’s 50% share)

2,214,000 oz

2021 production guidance (Agnico Eagle’s 50% share)

350,000 oz gold

2021 total cash costs guidance

$616/oz gold

Mine life

2028 (Open pit)

Mine Production

2020 Output

(Agnico Eagle’s 50% share)

Employees

829