Commodities
Canadian Malartic – Barnat Pit Update
MONTRÉAL, July 02, 2026 (GLOBE NEWSWIRE) -- OR Royalties Inc. (“OR Royalties” or the “Company”) (OR: TSX & NYSE) notes that today, its operating partner, Agnico Eagle Mines Limited (“Agnico Eagle”), reported that a rock mass movement occurred on July 1, 2026, along the north wall of the Barnat open pit at the Canadian Malartic Complex (“Canadian Malartic”) in Québec, Canada. There were no injuries, equipment damage or environmental impact as a result of the event. As a precautionary measure, Agn
About this update from Or Royalties Inc.
MONTRÉAL, July 02, 2026 (GLOBE NEWSWIRE) -- OR Royalties Inc. ("OR Royalties" or the "Company") (OR: TSX & NYSE) notes that today, its operating partner, Agnico Eagle Mines Limited ("Agnico Eagle"), reported that a rock mass movement occurred on July 1, 2026, along the north wall of the Barnat open pit at the Canadian Malartic Complex ("Canadian Malartic") in Québec, Canada. There were no injuries, equipment damage or environmental impact as a result of the event. As a precautionary measure, Agnico Eagle has temporarily suspended mining operations in the Barnat open pit. Agnico Eagle's technical teams are conducting a detailed geotechnical assessment to confirm the stability of the affected area and determine the appropriate path forward. Planning activities are underway to support the safe and orderly resumption of operations in the Barnat pit. Based on currently available information, Agnico Eagle expects the rock mass movement to reduce production in the second half of 2026 at Canadian Malartic by approximately 60,000 to 80,000 ounces of gold. The Barnat open pit was expected to be mined out by early 2029. While Agnico Eagle's geotechnical assessment remains ongoing, the event is currently expected to result in reduced production in both 2027 and 2028 of up to approximately 150,000 ounces of gold per year. Agnico Eagle is continuing to evaluate opportunities to mitigate this potential impact to its production outlook. Importantly, Agnico Eagle believes that the rock mass movement will not affect the development or production outlook for the Odyssey (underground) mine and does not change the pathway to achieving annual production of 1 million ounces of gold from the Canadian Malartic complex in the early 2030s. OR Royalties holds a 5.0% NSR royalty on nearly all the Mineral Reserves contained within the Barnat Pit at Canadian Malartic. Based on the information provided to date by our operating partner, OR Royalties' 2026 gold equivalent ounce delivery guidance range, as well as its 5-year outlook, remain unchanged. For more detailed information, please refer to Agnico Eagle's press release dated July 2, 2026 titled "Agnico Eagle Reports Wall Movement at Barnat Open Pit at Canadian Malartic". Qualified Person The scientific and technical content of this news release has been reviewed and approved by Guy Desharnais, Ph.D., P.Geo., Vice President...