QUEBEC – Osisko Mining, owner and operator of the Canadian Malartic gold mine at Malartic, has filed a report outlining the local and regional economic impact of the project. Among its findings, that the average annual salary is $87,000, 66% higher than elsewhere in the Vallee-de-l’Or Regional County Municipality.
The mine provides 635 direct jobs with payroll of $61.6 million. There are about 1,000 indirect jobs, and those salaries bring total compensation to more than $100 million. Moreover, the mine makes purchases of over $290 million annually in the Abitibi-Temiscamingue region.
Sean Roosen, Osisko president and CEO, commented: “The KPMG-Secor study demonstrates the positive impact of Canadian Malartic in recent years on the economy of Malartic, Abitibi-Temiscamingue and Quebec. During the BAPE hearings in 2009, Osisko had estimated that the project would be an economic engine for local, regional and Quebec economies. This study confirms our assessment.”
The study was prepared by KPMG-Secor and filed with the Ministry of Sustainable Development, Environment, Wildlife and Parks (MDDEFP) as required under the terms of Osisko’s environmental monitoring plan. It may be read at Osisko.com.