Canadian Malartic Complex

Malartic, northwestern Quebec, Canada

Canadian Malartic, 25 km west of Val-d’Or in northwestern Quebec, is the second-largest operating gold mine in Canada. 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.  

Key Facts

Mine Type

Open Pit and Underground

2022 production (Agnico Eagle’s 50% share)

329,396 oz gold

2022 production costs

$716/oz gold

2022 total cash costs

$787/oz gold

Gold reserves (100% share)

3,206,000 oz

2023 production guidance (Agnico Eagle’s 50% share in Q1 and 100% share in Q2-Q4)

585,000 oz gold

2023 total cash costs guidance

$873/oz gold

Mine life

2029 (Open pit)

2039 (Underground)

Mine Production

2022 Output

(Agnico Eagle’s 50% share)