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Top 10 richest gold mines in Canada in 2020 - report

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(Kitco News) - The grade or concentration of a mineral or metal in ore directly affects costs associated with mining as well as its subsequent beneficiation and extraction of precious components.

Kitco ranked currently active gold operations in Canada based on gold grade in a tonne of milled ore. We looked at operations that are separate reporting units and which have 2020 gold grade figures disclosed by the owners/operators.

With 18.6 g/t gold in milled ore reported in 2020, Kirkland Lake Gold’s Macassa is the richest gold mine in Canada last year. The gold grade at Macassa has seen a 22% decline compared to 23.7 g/t in 2019 due to the transition to reduced operations as part of the company’s COVID-19 response.

Wesdome’s Eagle River operation is second richest gold mine in Canada. Gold grade decreased 39%, from 23.1 g/t in 2019 to 14.2 g/t in 2020 due to geotechnical challenges affecting the grade performance in one of the key stopes mined.

Alamos Gold’s Island gold mine is third. Annual grade milled was 11.6 g/t gold in 2020, in line with full year guidance.

SSR Mining’s Seabee mine is fourth with 10.1 g/t gold grade achieved in 2020.

Agnico Eagle’s Hope Bay mine is fifth with 10.1 g/t gold grade. TMAC Resources was acquired by Agnico Eagle on February 2nd, 2021. Therefore, due to lack of reported numbers for the full year 2020, we considered gold grade for nine months ended September 30, 2020.

The complete list is below.

Top 10 richest gold mines in Canada in 2020 - Slope Chart

20192020Macassa - Kirkland Lake 23.7Macassa - Kirkland Lake 23.7Eagle River - Wesdome 23.1Eagle River - Wesdome 23.1Island - Alamos Gold 11.9Island - Alamos Gold 11.9Seabee - SSR Mining 9.6Seabee - SSR Mining 9.6Hope Bay - TMAC* 9.5Hope Bay - TMAC* 9.5Brucejack - Pretium 8.7Brucejack - Pretium 8.7Red Lake - Evolution 8.2Red Lake - Evolution 8.2Meliadine - Agnico Eagle 7.6Meliadine - Agnico Eagle 7.6Lamaque - Eldorado Gold 6.8Lamaque - Eldorado Gold 6.8Sugar Zone - Harte Gold 4.6Sugar Zone - Harte Gold 4.618.6 Macassa - Kirkland Lake18.6 Macassa - Kirkland Lake14.2 Eagle River - Wesdome14.2 Eagle River - Wesdome11.6 Island - Alamos Gold11.6 Island - Alamos Gold10.1 Seabee - SSR Mining10.1 Seabee - SSR Mining10.1 Hope Bay - TMAC*10.1 Hope Bay - TMAC*8.5 Brucejack - Pretium8.5 Brucejack - Pretium7.5 Red Lake - Evolution7.5 Red Lake - Evolution7.3 Meliadine - Agnico Eagle7.3 Meliadine - Agnico Eagle7.2 Lamaque - Eldorado Gold7.2 Lamaque - Eldorado Gold6.3 Sugar Zone - Harte Gold6.3 Sugar Zone - Harte Gold


Top 10 richest gold mines in Canada in 2020 - Data Table

Mine

Major owner

2020 gold grade in milled ore, g/t

2019 gold grade in milled ore, g/t

Change, %

1

Macassa

Kirkland Lake

18.6

23.7

-22

2

Eagle River

Wesdome

14.2

23.1

-39

3

Island

Alamos Gold

11.6

11.9

-3

4

Seabee

SSR Mining

10.1

9.6

5

5

Hope Bay

TMAC (acquired by Agnico Eagle in Feb. 2021)

 10.1*

 9.5*

6

6

Brucejack

Pretium

8.5

8.7

-2

7

Red Lake

Evolution

7.5

8.2

-9

8

Meliadine

Agnico Eagle

7.3

7.6

-4

9

Lamaque

Eldorado Gold

7.2

6.8

6

10

Sugar Zone

Harte Gold

6.3

4.6

37

* Gold grade for the nine months ended September 30, 2020 and September 30, 2019, respectively.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.