Royalty Overview

The Canadian Malartic royalties were acquired in November 2021, through the acquisition of Abitibi Royalties & Golden Valley.  The Company holds four royalties on portions of the Canadian Malartic Property, including a 3.0% NSR royalty on portions of the Canadian Malartic mine. This royalty currently applies to a portion of the open pit areas (the eastern end of the Barnat Extension) where most of the production to date has occurred. The royalty also applies to portions of the Odyssey, East Malartic, Sladen and Sheehan zones, and all of the Jeffrey zone within the Canadian Malartic Mine Property. For additional information on coverage please see the royalty coverage map included in the photo gallery.

Project Overview

The Canadian Malartic Open Pit is Canada’s largest open-pit gold mine, located in the Town of Malartic, in Quebec, Canada, it is operated by the Canadian Malartic Partnership, owned equally by Agnico Eagle and Yamana Gold. The processing plant on-site is currently designed to process a maximum of 60,000 tonnes of ore per day through crushing, grinding and leaching, producing doré bars on-site.

Open-pit operations are currently expected to continue until 2029, having recently reached the milestone of 6,000,000 gold ounces of cumulative production in December 2021 under the new partnership. Development is currently focused in the higher-grade Barnat pit and transitioning operations away from the current Canadian Malartic pit. In 2022 it is expected that approximately one-third of production will be sourced from the Canadian Malartic pit, and two-thirds from the Barnat pit, where the Barnat pit will remain as the primary pit of operations until 2027. As of 2021 the final 7,000 metres of topographic drilling at Barnat have concluded.