Canada's Leading Gold Mines: A Deep Dive into Production and Key Players in 2025

Canada stands as a significant player in the global gold market, consistently ranking among the top gold-producing countries. In 2023, Canada was the fourth largest producer, contributing approximately 6.7% to global production. The country's rich geological landscape, particularly in provinces like Ontario and Quebec, hosts numerous prolific gold deposits, making it a key region for gold exploration and mining. As we move through 2025, the Canadian gold mining sector continues to evolve, with existing mines maintaining strong production and new projects coming online. This report delves into the top gold mines currently in operation across Canada, highlighting their production statistics, ownership, and provincial locations.

Key Highlights of Canadian Gold Production

Dominant Provinces: Ontario and Quebec are the powerhouses of Canadian gold production, accounting for the majority of the country's output.
Major Producers: Companies like Agnico Eagle Mines, Barrick Gold, and Newmont operate some of the largest and most productive gold mines in Canada.
Upcoming Production: The Valentine Gold Mine in Newfoundland and Labrador is expected to significantly increase its production in 2025, adding to Canada's total output.

Understanding Gold Equivalent Ounces (GEOs)

When discussing gold mine production, the term "Gold Equivalent Ounces" (GEOs) is often used. This metric provides a standardized way to report production from mines that produce multiple metals (such as gold, silver, copper, etc.). GEOs are calculated by taking the production of all metals and converting their value into the equivalent amount of gold ounces based on prevailing market prices. This allows for a more comprehensive comparison of the total precious metal output from different mines.

Top Producing Gold Mines in Canada (Based on Available 2023 and Projected 2025 Data)

Based on available data and projections for 2025, the following mines are among the top gold producers in Canada, ranked by their estimated annual gold equivalent ounces (GEOs). It's important to note that exact GEO production figures for all mines in 2025 may vary and are subject to change based on operational performance and market conditions. The ranking below is based on the most recent information available and industry expectations.

Leading Gold Mines and Their Profiles

Canada's gold mining landscape is characterized by a mix of large-scale operations and promising development projects. Here are some of the key players and their flagship mines:

Detour Lake Project

Located in Ontario, the Detour Lake Project is currently the largest gold producing mine in Canada. Owned by Agnico Eagle Mines, it boasts significant gold reserves and considerable potential for growth. In 2023, it produced an estimated 682 thousand ounces of gold and is expected to operate until 2052.

Aerial view of a large open-pit gold mine.

A large open-pit gold mine, representative of operations like the Canadian Malartic.

Canadian Malartic Mine

Also owned by Agnico Eagle Mines, the Canadian Malartic Mine in Quebec is another major contributor to Canada's gold output. It was Canada's biggest gold mine in the past and is expected to produce over 500,000 ounces per year until 2028. In 2023, its production was estimated at 652.45 thousand ounces of gold.

Drone view showcasing the scale of the Canadian Malartic mine.

Meadowbank Complex

Situated in Nunavut, the Meadowbank Complex is a significant asset for Agnico Eagle Mines. This complex contributed an estimated 429.91 thousand ounces of gold in 2023 and is expected to operate until 2026.

Meliadine Project

Another Agnico Eagle Mines operation in Nunavut, the Meliadine Project is a key producing mine with substantial output.

Brucejack Mine

Located in British Columbia, the Brucejack Mine is a notable gold producer in western Canada. It is owned by Newmont.

Greenstone Mine

The Greenstone Mine in Ontario reached commercial production in November 2024 and is jointly owned by Equinox Gold and Orion Mine Finance. At full production, it is expected to produce a significant amount of gold annually, contributing to Canada's overall output in 2025 and beyond.

Aerial view of the Greenstone Mine.

Valentine Gold Mine

Located in Newfoundland and Labrador, the Valentine Gold Mine, owned by Calibre Mining, is on track for its first gold pour during Q2 2025. Upon completion, it is projected to be the largest gold mine in Atlantic Canada and is expected to significantly increase Calibre Mining's overall production.

A video discussing the Valentine Gold Mine, poised to be the largest in Atlantic Canada.

This video provides insights into the development and potential of the Valentine Gold Mine. Its expected commencement of production in 2025 marks a significant event for the Canadian gold mining sector, particularly for the Atlantic region.

Musselwhite Mine

Located in Ontario, the Musselwhite Mine is another important gold-producing asset owned by Newmont.

Éléonore Mine

Located in Quebec, the Éléonore Mine is an underground gold mine operated by Newmont.

Kirkland Lake Complex

Owned by Agnico Eagle Mines, the Kirkland Lake Complex in Ontario includes several mines and contributes to the company's overall gold production.

Malartic CHL (Canadian Malartic)

This represents the underground portion of the Canadian Malartic mine, also owned by Agnico Eagle Mines, contributing to the overall production from the complex.

La Ronde Mine

Located in Quebec, the La Ronde Mine is a significant underground gold and silver mine operated by Agnico Eagle Mines.

Goldex Mine

The Goldex Mine in Quebec is another underground gold mine operated by Agnico Eagle Mines.

Macassa Mine

Located in Ontario, the Macassa Mine is a high-grade underground gold mine operated by Kirkland Lake Gold, which is now part of Agnico Eagle Mines.

Rainy River Mine

The Rainy River Mine in Ontario is an open-pit and underground gold mine operated by New Gold.

An analysis of New Gold, operators of the Rainy River Mine.

This video explores New Gold Inc., providing insights into their operations and position within the Canadian gold market.

Snapshot of Top Canadian Gold Mines and Their Production (Estimates for 2023/Projections for 2025)

Here is a table summarizing some of the top gold mines in Canada based on recent production data and future projections. Please note that exact GEO figures for 2025 are projections and the ranking may shift as the year progresses and more data becomes available. Production figures are primarily based on gold ounces, as detailed GEO breakdowns for all mines in 2025 are not consistently available publicly. However, these mines are consistently ranked among the highest producers in Canada.

Rank (Approx.)	Mine Name	Owner	Province	Approx. 2023 Gold Production (Thousand Ounces)	2025 Outlook
1	Detour Lake Project	Agnico Eagle Mines	Ontario	682	Continued strong production
2	Canadian Malartic Mine	Agnico Eagle Mines	Quebec	652.45	Continued strong production
3	Meadowbank Complex	Agnico Eagle Mines	Nunavut	429.91	Continued production
4	Meliadine Project	Agnico Eagle Mines	Nunavut	N/A	Significant producer
5	Brucejack Mine	Newmont	British Columbia	N/A	Significant producer
6	Greenstone Mine	Equinox Gold / Orion Mine Finance	Ontario	N/A (Commercial production Nov 2024)	Significant production ramp-up expected
7	Valentine Gold Mine	Calibre Mining	Newfoundland and Labrador	N/A (First gold pour Q2 2025)	Production ramp-up expected
8	Musselwhite Mine	Newmont	Ontario	N/A	Significant producer
9	Éléonore Mine	Newmont	Quebec	N/A	Significant producer
10	Kirkland Lake Complex	Agnico Eagle Mines	Ontario	N/A	Significant producer
11	Malartic CHL	Agnico Eagle Mines	Quebec	N/A	Part of Canadian Malartic complex
12	La Ronde Mine	Agnico Eagle Mines	Quebec	N/A	Significant producer (gold and silver)
13	Goldex Mine	Agnico Eagle Mines	Quebec	N/A	Significant producer
14	Macassa Mine	Agnico Eagle Mines	Ontario	N/A	High-grade producer
15	Rainy River Mine	New Gold	Ontario	N/A	Significant producer

Note: N/A indicates data not readily available in the provided sources for 2023 production, but these mines are recognized as major current producers. The ranking is approximate and based on available information on production scale.

Companies Driving Canadian Gold Production

Several major mining companies are at the forefront of gold production in Canada. These companies operate multiple mines and exploration projects across the country, contributing significantly to the national output.

Leading Gold Mining Companies in Canada

Agnico Eagle Mines: One of the largest gold mining companies in Canada, with significant operations in Ontario, Quebec, and Nunavut, including the top-producing Detour Lake and Canadian Malartic mines.
Barrick Gold: A global leader in gold production with a strong presence in Canada. Barrick operates major mines and joint ventures.
Newmont: Following its acquisition of Newcrest, Newmont has a significant portfolio of assets in Canada, including the Brucejack, Musselwhite, and Éléonore mines.
Kinross Gold Corp.: Another major Canadian gold producer with operations both domestically and internationally.
B2Gold: A Canadian gold producer with a focus on responsible mining.
Alamos Gold: Operates high-quality, long-life assets in safe jurisdictions, including Canada. It is highlighted as a top gold mining stock to watch in 2025.
Equinox Gold: With the combination with Calibre Mining, the new Equinox Gold is set to become the second-largest gold producer in Canada, with key assets like the Greenstone and Valentine mines.
Calibre Mining: Expected to see a significant increase in production in 2025 with the Valentine Gold Mine coming online.
New Gold Inc.: Operates the Rainy River Mine in Ontario.

Future Outlook for Canadian Gold Mining in 2025

The Canadian gold mining sector is poised for continued activity and potential growth in 2025. Several factors are influencing this outlook:

New Mines Coming Online: The Valentine Gold Mine and the ramp-up of production at the Greenstone Mine are expected to add substantial ounces to Canada's total production.
Exploration and Development: Companies like Fury Gold Mines are actively developing exploration targets for potential drilling in 2025, indicating future growth potential.
Market Conditions: Geopolitical tensions and inflationary pressures are contributing to a favorable gold price environment, which can incentivize production and exploration. Gold prices have seen significant increases and breached the US$3,000 level in 2025.
Mergers and Acquisitions: The combination of Equinox Gold and Calibre Mining is an example of consolidation in the industry, aimed at creating larger, more efficient producers.
Sustainability Focus: There is an increasing focus on environmentally friendly practices and sustainable mining across the Canadian industry.

FAQ

Which provinces are the largest gold producers in Canada?

Ontario and Quebec are the largest gold-producing provinces in Canada. As of 2021, these two provinces accounted for 70% of Canada's total gold production.

What are the largest gold mines in Canada by production?

Based on recent data, the largest gold mines by production in Canada include the Detour Lake Project, Canadian Malartic Mine, Meadowbank Complex, Meliadine Project, and Brucejack Mine.

Are there new gold mines expected to start production in Canada in 2025?

Yes, the Valentine Gold Mine in Newfoundland and Labrador is expected to achieve its first gold pour in Q2 2025, and the Greenstone Mine in Ontario, which reached commercial production in late 2024, is expected to ramp up production significantly in 2025.

What are some of the top Canadian gold mining companies to watch in 2025?

Companies frequently mentioned as top Canadian gold mining companies include Agnico Eagle Mines, Barrick Gold, Newmont, Kinross Gold, B2Gold, Alamos Gold, Aura Minerals, Equinox Gold, and Calibre Mining.

What is a Gold Equivalent Ounce (GEO)?

A Gold Equivalent Ounce (GEO) is a metric used to standardize production reporting for mines that produce multiple metals. It converts the value of all produced metals into the equivalent amount of gold ounces based on market prices, allowing for a comprehensive measure of total precious metal output.