DisruptionJul 2, 2026, 11:46 AM
Agnico Eagle Reports Rock Movement at Barnat Pit; Lowers Gold Output
AI Summary
Agnico Eagle Mines reported a rock mass movement at its Barnat open pit at the Canadian Malartic complex, leading to a temporary suspension of mining operations. While there were no injuries or equipment damage, the company expects a reduction of 60,000 to 80,000 ounces of gold production in the second half of 2026, pushing full-year 2026 production to the lower end of its guidance. Further reductions of up to 150,000 ounces per year are anticipated for 2027 and 2028, though the Odyssey mine and the long-term 1 million ounces gold target for the complex remain unaffected.
Key Highlights
- Rock mass movement occurred on July 1, 2026, at Barnat open pit, Canadian Malartic.
- Mining operations in Barnat open pit temporarily suspended; no injuries or equipment damage.
- Expects 60,000-80,000 ounces gold production reduction in H2 2026 at Canadian Malartic.
- Full-year 2026 production expected near lower end of 3.3M-3.5M ounces gold guidance.
- Anticipates up to 150,000 ounces gold reduction per year in 2027 and 2028.
- No impact on Odyssey mine development or long-term 1M ounces gold target for Canadian Malartic.
Price Impact
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