Intermediate precious metal royalty company Osisko Gold Royalties announced on March 25 that, following the announcement by Agnico Eagle Mines and Yamana Gold – the operators of the Canadian Malartic Mine – operations at the mine would be ramped down and placed on care and maintenance until April 13.
As instructed, minimal work will take place during that time, in compliance with the most recent Québec government order in an effort to contain the Covid-19 outbreak.
“Given the outstanding pandemic, we support Agnico, Yamana and all other mine operators in their efforts to put the health and safety of their work force first with a view to contain the virus and thereby “flatten the curve” as explained by public health authorities across the world,” said Osisko CEO and chair Sean Roosen.
He noted that while Osisko’s business would be impacted on by these measures as metal deliveries and revenues would be temporarily deferred, the company was confident that operators would be in a position to progressively resume normal operations when deemed appropriate by government authorities.
In the context of rapidly evolving news on Covid‑19, Osisko is monitoring the situation closely and noted that it will provide an update as soon as possible on restart of operations.