Canada’s biggest gold mine is shutting down under Quebec’s directive that all non-essential businesses close until April 13 to reduce the spread of COVID-19, putting more stress on the already battered Canadian gold sector.
The Canadian Malartic mine in the Abitibi region of Quebec produced about 450,000 ounces of gold last year, and is co-owned by Agnico Eagle Mines Ltd. and Yamana Gold Corp. Agnico’s Goldex and LaRonde mines, both in Quebec, are also closing under the province’s directive.
In addition, the Toronto-based company is paring back operations at its two mines in Nunavut, which heavily rely on Quebec workers. At Meliadine, Agnico plans to process ore from stockpiles for 40 days, while Amaruq will be sidelined entirely. Continue Reading →