Agnico Eagle Mines has temporarily suspended operations at a portion of its mine in Quebec after a rock mass movement, with no casualties reported.
The miner said the rock mass movement occurred Wednesday along the north wall of the Barnat open pit at its Canadian Malartic complex.
Agnico said Thursday that there were no injuries or damage to equipment, and no environmental impact, but that it has chosen to temporarily suspended mining operations in the Barnat open pit as a precautionary measure.
The company said the rock mass movement is expected to reduce production in the second half of 2026 at Canadian Malartic by about 60,000 to 80,000 ounces of gold. Production is also expected to be reduced in both 2027 and 2028 by about 150,000 ounces of gold per year, it said.
The company said its technical teams are conducting a geotechnical assessment to confirm the stability of the area and determine how to move forward.
In the meantime, the plant there will be supplied with low-grade ore from existing stockpiles in place of planned Barnat ore feed to offset near-term impact on production, Agnico Eagle said.
The company said expected production for the second quarter of about 845,000 ounces of gold is slightly ahead of plan.
Shares were down 1% to 218.13 Canadian dollars.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
July 02, 2026 11:42 ET (15:42 GMT)
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