Back to news

CANADIAN MALARTIC'S ODYSSEY PROJECT : CONSTRUCTION BEGINS!

12/02/2021

Press Releases

Québec City, February 12, 2021 – Given that very few mine projects are currently under development in Québec, the Québec Mining Association (QMA) sees the announcement of financing for the construction of Canadian Malartic’s Odyssey Mine in the Abitibi-Témiscaminque region as a red-letter day for Québec and the mining industry.

With investments of $1.7 billion over seven years, mining operations scheduled to continue until 2039, and almost 1,500 jobs at the peak of the mine’s activities in 2031, it is clear that the Odyssey Mine will be a pathfinder project for the Québec economy.

Although authorization from the Québec government is still needed to launch some phases, the QMA is pleased to see that Agnico Eagle Mines and Yamana Gold have the confidence needed to go ahead with the project.

Quote

“What a good way to start the year! The construction of a new mine is always a special moment in the mining sector. We are delighted to see that major players in the industry have decided to go ahead with a promising project, developed by a company that is responsible and responsive to individual and community concerns. This is really good news for Malartic, for the Abitibi-Témiscamingue region, and for the whole of Québec.”

- Josée Méthot, President and CEO of the Québec Mining Association

About the Québec Mining Association

The Québec Mining Association (QMA) was founded in 1936 and speaks proactively for mining companies involved in exploration, extraction and processing, mining contractors and junior mining companies, along with suppliers, institutions, non-profit organizations and other mining sector partners. It is proud of the 48,006 jobs and total expenditure of $9.9 billion generated by Québec's mining industry in 2018, based on the most recent data. The QMA’s mission is to promote, support and proactively develop a responsible, committed and innovative mining industry in Québec.