Top 10 largest gold mines in Canada in Q2 2023 - report
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(Kitco News) - Agnico Eagle’s Canadian Malartic was the largest gold mine in Canada in Q2 2023, followed by Agnico Eagle’s Detour Lake and Meadowbank mines. The top 10 largest gold mines in Canada produced 912 koz of gold in Q2 2023, down 5% compared to Q2 2022.
Kitco ranked the top 10 largest gold mines in Canada by production in Q2 2023.
1. Canadian Malartic. 178 koz. Agnico Eagle’s Canadian Malartic was the largest gold mine in Canada in Q2 2023. On June 28th the Canadian Malartic complex reached a milestone by pouring its seven millionth gold ounce since achieving commercial production in 2011.
The company said the Canadian Malartic pit was depleted in Q2 2023, adding that work has commenced to prepare for in-pit tailings disposal, which is expected to start in the second half of 2024.
According to Agnico Eagle, gold production from the Odyssey mine in Q2 2023 totaled 6,747 ounces. The commissioning of the paste plant has been slightly delayed because of corrective measures required with recently installed piping for the paste network. The paste plant startup is now scheduled for August 2023.
2. Detour Lake. 169 koz. Agnico Eagle’s Detour Lake is the second largest gold mine in Canada. In Q2 2023, gold production at Detour Lake decreased by 14% when compared to the prior year period primarily due to lower grades as expected due to the planned mining sequence.
3. Meadowbank. 95 koz. Agnico Eagle’s Meadowbank mine is third. In Q2 2023, gold production at Meadowbank decreased by 2% when compared to the prior-year period as a result of lower processing volumes due to mill shutdowns from the caribou migration, partially offset by higher gold grades
4. Meliadine. 88 koz. Gold production at another Agnico Eagle’s Meliadine mine of 88 koz in Q2 2023 decreased by 10% when compared to Q2 2022 primarily due to lower gold grades, partially offset by higher mill throughput.
5. Brucejack. 80 koz. Gold production at Newcrest’s Brucejack mine of 80 koz was 11% lower than the prior year period. The company said that gold production was lower than expectations driven by lower than anticipated gold head grade.
6. LaRonde. 77 koz. Gold production at Canada’s sixth largest LaRonde mine, owned by Agnico Eagle, decreased by 13% in Q2 2023 when compared to Q2 2022 primarily due to lower processing volumes and lower grades as a result of changes in the mining method that resulted in more lower grade ore being sourced from upper portions of the mine and a slower mining rate.
7. Porcupine. 60 koz. Gold production at Newmont’s Porcupine mine decreased 12% in Q2 2023 primarily due to lower mill throughput as a result of scheduled mill downtime, partially offset by a drawdown of in-circuit inventory in the current year compared to a build-up in the prior year and higher ore grade milled in the current year.
8. Rainy River. 60 koz. Q2 2023 gold production at New Gold’s Rainy River mine increased by 40% y-o-y due to higher gold grades.
9. Macassa. 57 koz. Gold production at Agnico Eagle’s Macassa mine decreased when compared to the prior year period primarily due to lower gold grades in the mining sequence, partially offset by higher throughput volumes.
10. Eleonore. 48 koz. Gold production at Newmont’s Eleonore mine increased 7% primarily due to higher ore grade milled, partially offset by lower mill throughput as a result of a temporary evacuation of the site and corresponding shutdown of the operation in June 2023 in response to wildfires.
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