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Agnico Eagle suspends Quebec pit mining, flags production hit
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Agnico Eagle suspends Quebec pit mining, flags production hit
Jul 2, 2026 5:55 AM

July 2 (Reuters) - Miner Agnico Eagle Mines said

on Thursday a rock mass movement occurred along the north wall

of the Barnat open pit at its Canadian Malartic complex in

Quebec, prompting a temporary suspension of mining operations.

The company said no injuries, equipment damage or

environmental impact were reported as a result of the event.

* Agnico said the area had previously been identified as

geotechnically weaker and was under enhanced monitoring, adding

that technical teams are conducting a detailed assessment.

* Processing operations at the Canadian Malartic complex

will continue in the near term using stockpiled ore, the company

said.

* The Barnat open pit was expected to be mined out by early

2029, and the company said the incident could reduce production

by up to about 150,000 ounces of gold per year in both 2027 and

2028, pending the outcome of its assessment.

* Agnico Eagle said Canadian Malartic output in the second

quarter of 2026 was not affected, with production expected to be

about 845,000 ounces of gold, slightly ahead of plan.

* It expects production in the second half of 2026 to fall

by roughly 60,000 to 80,000 ounces, which could push full-year

output toward the lower end of its forecast range of 3.3 million

to 3.5 million ounces.

* The miner said it is advancing its assessment and planning

a safe restart at Barnat, adding that the disruption does not

affect the Odyssey mine or its long-term 1-million-ounce annual

production target at Canadian Malartic.

(Reporting by Varun Sahay in Bengaluru)

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