DisruptionJul 2, 2026, 05:17 PM
OR Royalties: Canadian Malartic Barnat Pit Rock Movement Reduces Gold Output
AI Summary
OR Royalties Inc. reported a rock mass movement at the Canadian Malartic Barnat open pit, operated by Agnico Eagle Mines Limited, on July 1, 2026. This incident led to a temporary suspension of mining operations in the pit and is expected to reduce gold production by 60,000 to 80,000 ounces in the second half of 2026, and up to 150,000 ounces annually in 2027 and 2028. Despite the disruption, the development and production outlook for the Odyssey (underground) mine are not affected, and OR Royalties' 2026 guidance and 5-year outlook remain unchanged.
Key Highlights
- Rock mass movement occurred on July 1, 2026, at Canadian Malartic's Barnat open pit.
- Agnico Eagle temporarily suspended mining operations in the Barnat open pit.
- Expected reduction of 60,000 to 80,000 ounces of gold in H2 2026.
- Expected reduction of up to 150,000 ounces of gold per year in 2027 and 2028.
- Odyssey (underground) mine development and production outlook remain unaffected.
- OR Royalties' 2026 gold equivalent ounce delivery guidance and 5-year outlook remain unchanged.
- OR Royalties holds a 5.0% NSR royalty on nearly all Mineral Reserves in the Barnat Pit.
Price Impact
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