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Alamos Gold is a Canadian Multinational corporation Gold mining producer, headquartered in Toronto, Canada. Alamos operates three mines across North America, and has six further projects in development.

Alamos Gold Inc.
Public company
Traded asS&P/TSX Composite Index component
IndustryMetals & Mining
FoundedFebruary 21, 2003; 18 years ago (2003-02-21)
Headquarters
Toronto
,
Canada
Key people
  • Chairman: Paul J. Murphy
  • Chief executive officer
  • CEO: John A. McCluskey
  • Chief operating officer
  • COO: Peter K. MacPhail
  • Chief financial officer
  • CFO: James R. Porter
ProductsGold
Websitewww.alamosgold.com

Alamos is listed on the Toronto Stock Exchange and is a component of the S&P/TSX Composite Index.

Contents

History

Alamos Gold was formed in 2003 through the merger of Alamos Minerals and National Gold.[1]

In 2015, Alamos merged with AuRico Gold, acquiring the Young-Davidson mine and the El Chanate mine, in a deal valued at $1.5 billion US dollars.[2][3]

In 2017, Alamos acquired Richmont Mines Inc. in a deal valued at $770 million US dollars.[4]

In August 2019, protests were held outside Alamos' Kirazli Project. The protestors alleged that Alamos cut down four times the number of trees than it declared in an environmental impact report and that the use of cyanide to extract gold could contaminate the soil and waters of a nearby dam.[5][6] The Turkish government rejected claims that the mine will damage the environment and denied cyanide will be used.[5] In an interview Alamos CEO John McCluskey denied that cyanide would leak into the surrounding area and pointed out that Alamos had pre-paid for future reforestation at the site once the project is completed. McCluskey also suggested that the project had been the subject of deliberate misinformation aimed at advancing a political agenda.[7]

In October 2019, Alamos halted construction at the Kirazli project after its mining concessions expired amidst the protests.[8]

In July 2020, Alamos announced plans to expand its operations at the Island Gold mine.[9]

In April 2020, a group of five armed robbers intercepted a shipment of gold and silver alloy bars that were being loaded onto a plane for transport at Alamos' Mulatos Mine, then fled in a light aircraft. The company did not disclose the amount or the value of the bars taken, but said that the loss was covered by insurance.[10][11]

Operations

A mineral sample from the Young-Davidson Mine.

Producing Mines

Name Country
Young-Davidson Mine Canada
Island Gold Mine Canada
Mulatos Mine Mexico

Developments

Name Country
Kirazli Project Turkey}}
Ağı Dağı Project Turkey}}
Çamyurt Project Turkey}}
Lynn Lake Project Canada
Esperanza Project Mexico
Quartz Mountain Project United States

Finances

Year End Total assets

(mil. USD)

2020
2019[12] $3,396.5
2018[13] $3,265.2
2017[14] $3,313.8
2016[15] $2,492.2
2015[16] $2,462.2

References

  1. "Alamos Gold - About Alamos". Retrieved 18 February 2021.
  2. McKinnon, Judy (13 April 2015). "Canada's Alamos Gold and AuRico Gold to Merge". The Wall Street Journal. Retrieved 18 February 2021.
  3. Paddon, David (13 April 2015). "Alamos Gold, AuRico to merge in $1.5-billion deal". The Globe and Mail. Retrieved 18 February 2021.
  4. "Alamos Gold to acquire Richmont Mines in $933-million deal". The Globe and Mail. 11 September 2017. Retrieved 23 February 2021.
  5. 5.0 5.1 Altayli, Birsen (6 August 2019). "'Don't come if you like gold': Turks march against planned gold mine". Reuters. Retrieved 19 February 2021.
  6. Bennett, Catherine (7 August 2019). "Canadian gold mine in Turkey sparks environmental protests". France 24. Retrieved 19 February 2021.
  7. Gumrukcu, Tuvan (7 August 2019). "After protests, Alamos CEO defends Turkish mine project against 'misinformation'". Reuters. Retrieved 19 February 2021.
  8. "Alamos Gold halts construction at Turkish project amid protests". Reuters. 14 October 2019. Retrieved 19 February 2021.
  9. "Alamos shares dip after $514-million expansion plans for northern Ontario mine". The Globe and Mail. 15 July 2020. Retrieved 23 February 2021.
  10. "Armed group robs Mexican gold mine, flees in plane". Reuters. 9 April 2020. Retrieved 23 February 2021.
  11. "Robbers escape by air after stealing gold bars from Canadian mine in Mexico". Toronto Star. 9 April 2020. Retrieved 23 February 2021.
  12. "Q4 Financial Statements 2019" (PDF). Retrieved 18 February 2021.
  13. "Q4 Financial Statements 2018" (PDF). Retrieved 18 February 2021.
  14. "Q4 Financial Statements 2017" (PDF). Retrieved 18 February 2021.
  15. "Q4 Financial Statements 2016" (PDF). Retrieved 18 February 2021.
  16. "Q4 Financial Statements 2015" (PDF). Retrieved 23 February 2021.

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