In the second quarter of 2023, Canada's ten largest gold mines produced five percent less gold compared to the same quarter last year. This corresponds to around 912,000 ounces less. The largest gold mine in Canada is Agnico Eagle's Malartic Mine. Second and third place also go to Agnico Eagle for the Detour Lake and Meadowbank mines. By the way, there is one royalty company, Osisko Gold Royalties - https://www.commodity-tv.com/ondemand/companies/profil/osisko-gold-royalties-ltd/ -, that has a weighty position in the portfolio. It's a five percent net royalty on Agnico Eagle's Malartic mine. In the second quarter of 2023, Osisko Gold Royalties, focused on North America, was able to generate revenues of just over $51 million. The Malartic mine recently recorded its seven millionth ounce of gold since the start of commercial production.
At Agnico Eagle's Detour Lake Mine, Canada's second largest gold mine, gold production declined by approximately 14 percent in the second quarter, with grades lower. Production was also down at Agnico Eagle's Meadowbank mine and Meliadine mine. Other major gold mines in Canada include Newcrest's Brucejack mine. Here, too, gold production was 11 percent lower than in the same quarter last year. Likewise, the sixth largest mine, the LaRonde mine, had to report 13 percent lower production in the same period, also due to lower gold grades. Newmont's Porcupine mine (12 percent lower) and Agnico Eagle's Marcassa mine also suffered a similar fate.
Companies such as Calibre Mining - https://www.commodity-tv.com/ondemand/companies/profil/calibre-mining-corp/ - are pleased when production records can be reported. Calibre Mining is one of the successful medium-sized gold producers and is focused on North and South America.
Current corporate information and press releases from Calibre Mining (https://www.resource-capital.ch/en/companies/calibre-mining-corp/ ) and Osisko Gold Royalties (https://www.resource-capital.ch/en/companies/osisko-gold-royalties-ltd/ ).
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