The Canadian Malartic complex in northwestern Quebec is one of the largest gold mining operations in the world. It consists of two mines: the Canadian Malartic mine, one of Canada’s largest open-pit gold mines; and the Odyssey mine, set to become the largest underground gold mine in Canada.
Open-pit mining in the Canadian Malartic pit was completed in 2023 and is continuing in the adjacent Barnat pit, which is expected to operate through 2029. The Canadian Malartic pit is now being used for in-pit tailings disposals. The new underground Odyssey mine, where mining began from the Odyssey South zone in 2023, is expected to produce 8.5 million ounces of payable gold from 2023 to 2042.
Both open-pit and underground ores are processed at the 60,000-tpd-capacity Canadian Malartic mineral processing facility, using a crushing-grinding process to recover gold and silver. The Odyssey mine is expected to use approximately one third of the mill capacity, leaving approximately 40,000 tpd of excess capacity starting in 2028.
With its “Fill the Mill” strategy, the Company is advancing three gold projects to potentially utilize a portion of this excess capacity and position Canadian Malartic to ramp-up toward 1 million ounces of annual gold production starting in 2033. These projects include a second shaft at Odyssey, the development of a satellite open pit at Marban and the development of the Wasamac underground project. Marban and Wasamac are located 12 km and 100 km from the Canadian Malartic mill, respectively.