Operator: Agnico Eagle Mines Limited

Location: Quebec, Canada

Royalty: 1.0% to 1.5% sliding-scale NSR (gold only)

Term of Royalty: Life of Mine

Canadian Malartic is an open-pit and underground mine owned and operated by Agnico Eagle Mines Limited (“Agnico Eagle”). Canadian Malartic is the second largest operating gold mine in Canada and is located on the southern edge of the Town of Malartic in the Abitibi region of Quebec. The mine was developed by Osisko Mining Corporation (“Osisko”) and began commercial production in May 2011. In June 2014, Agnico Eagle and Yamana Gold Inc. (“Yamana”) each acquired a 50% stake in Osisko, and Agnico Eagle became the sole owner of the Canadian Malartic mine upon the acquisition of Yamana on March 31, 2023. 

The Canadian Malartic mine is a large open-pit operation mined using a conventional fleet of excavators and trucks. Upon depletion of the Canadian Malartic pit, preparation work will be undertaken for in-pit tailings disposal, which is expected to start in the second half of 2024. Open-pit mining focus will move to the Barnat pit immediately to the east of the Malartic pit. First production from underground operations was achieved in March 2023.

Mined ore is processed at the Canadian Malartic mineral processing complex, which has a 60,000 tonne per day nominal throughput capacity. After crushing and grinding, the ore is contained in a thickened slurry and processed using conventional cyanidation followed by carbon-in-pulp processing to produce doré bars containing gold and silver.