QUEBEC — Montreal-based Osisko Mining Corp. says spending at the Canadian Malartic mine development will pump $193.5 million into the regional economy of northern Quebec. About $17.2 million (9%) has been spent in the Malartic community, $98.4 million in the Abitibi-Temiskaming region, and $38.4 million elsewhere in the province so far this year.
Osisko employs 120 people at the project, and paid them $10.7 million over the first nine months of this year.
The company has also awarded the following major contracts for Canadian Malartic:
Aggregates Rouyn-Noranda (Rouyn-Noranda)
Drilling, Excavation and transportation, $1.5 million
ASDR Manufacturing (Malartic)
Manufacture and assembly of steel, $500,000
Construction Promec (Rouyn-Noranda)
Installation of the 120-kV electrical station, $1.5 million
Fournier et Fils (Val d'Or)
Road, sewer and water pipeline construction, $3.0 million
J&R Dumas (Malartic)
Installation of fuel handling facilities, $500,000
Domco Inc. (Malartic)
Supply HDPE pipe and gravel, $4.0 million
Manseau & Perron (Rouyn-Noranda)
Supply and installation of heating and ventilation systems, $6.3 million
Marcel Baril (Rouyn-Noranda)
Supply all control values for the plant, $2.3 million
Meglab Electronics (Malartic and Val d'Or)
Assembly of the electric power modules for the shovel, $930,000
Moreau Electric (Rouyn-Noranda)
Build 20 new homes in Malartic, $4.0 million
Supply and install rubber mill liners, $350,000
Osisko announced on Nov. 18, 2009, that it has received $241.0 million from the exercise of warrants which expired the previous day.
More information on the Canadian Malartic development is available at www.Osisko.com.