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Top 10 largest gold mines in Canada in Q2 2021 - report

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(Kitco News) - Based on quarterly production results, Kitco estimates that in Q2 2021, gold production in Canada was 1,570 koz, 34% higher compared to 1,174 koz produced in Q2 2020.

Jointly owned by Yamana Gold and Agnico Eagle, Canadian Malartic was the largest gold mine in Canada in Q2 2021. Canadian Malartic had an exceptional second quarter, with production of 184.2 koz of gold reached all-time quarterly highs, exceeding plan due to higher grade and recoveries from the ore found deeper in the Malartic pit. Gold production in Q2 2021 increased by 62% when compared to the prior-year period primarily due to higher throughput levels and higher gold grades.

Kirkland Lake’s Detour Lake mine was second and achieved record quarterly production of 165,880 ounces, which was 26% higher than the 131,992 ounces produced in Q2 2020, mainly due to a significant improvement in the average grade, as the mine sequenced into higher grade areas as part of the Phase 2 mining plan during Q2 2021, as well as an increase in tonnes processed.

Gold production at Agnico Eagle’s LaRonde complex in the second quarter of 2021 of 97.5 koz increased by 31% when compared to the prior-year period primarily as a result of a higher throughput levels partially offset by lower gold grades.

At another Agnico Eagle’s Meliadine mine, gold production in the second quarter of 2021 of 87.6 koz increased by 48% when compared to the prior-year period primarily due to higher gold grades as ore was increasingly sourced from the higher-grade RP3 horizon which returned higher grade than anticipated. 

In the second quarter of 2021, gold production at Agnico Eagle’s Meadowbank mine increased by 421% to 85.6 koz when compared to the prior-year period primarily due to the higher mining rate and mill throughput, and higher grade with deepening of the pit and the contribution from the IVR open pit. 

Production at Pretium’s Brucejack mine was 83,083 ounces of gold in the second quarter of 2021, 8% lower compared with 90,419 ounces in the second quarter of 2020. Lower production in the second quarter 2021 reflects the residual effects of the COVID-19 outbreak in the first quarter, as well as performance issues with several stopes during and following the outbreak.

Gold production at Newmont’s Eleonore mine of 69 koz in Q2 2021 increased 431% primarily due to the mine being placed under care and maintenance in the prior year as a result of ongoing COVID-19 restrictions and higher ore grade milled.

Gold production at another Newmont’s Porcupine mine decreased 24% to 66 koz in Q2 2021 primarily due to lower mill throughput and lower ore grade milled.

Production at Kirkland Lake’s Macassa mine in Q2 2021 totalled 55,322 ounces and was 32% higher than 41,865 ounces produced in Q2 2020. Higher tonnes processed in Q2 2021 compared to Q2 2020 mainly reflected better than anticipated widths and strike lengths from stopes in the South Mine Complex, as well as processing from surface stockpiles.

Gold production at Centerra’s Mount Milligan mine was 54,675 ounces in the second quarter of 2021, 53% higher compared to 35,656 ounces in the second quarter of 2020. The increase was due to higher throughput and higher gold grades.

Top 10 largest gold mines in Canada in Q2 2021

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.