Canadian mint introduces bullion coin using Éléonore gold
The Royal Canadian Mint’s newest single-mine Gold Maple Leaf coin is entirely sourced from Newmont’s (NYSE: NEM; TSX: NGT) Éléonore mine in northern Quebec. The coin weighs one Troy ounce and is 99.99% pure with a face value of $50.
The Mint’s first single-source Gold Maple Leaf coin was struck using gold from Agnico Eagle Mines’ (TSX: AEM; NYSE: AEM) Meliadine mine.
“As the world’s recognized sustainability leader in gold mining, Newmont is honoured to supply the gold for the Royal Canadian Mint’s Pure Gold Maple Leaf single-sourced coin from our Éléonore mine in Québec,” said Tom Palmer, Newmont president and CEO. “Our employees at Éléonore and across the globe take great pride in demonstrating our stated purpose to create value and improve lives through sustainable and responsible mining. And it all begins with our people working safely and with integrity, every single day.”
The coin comes in a credit card-style packaging that includes a certificate of purity and authenticity signed by the Mint’s chief assayer. The reverse of the coin features a sugar maple leaf surrounded by radial lines. Beneath the leaf is a micro-engraved security mark containing the number 23 (for the year of issue), only visible under magnification.
The Éléonore mine is located in Eeyou Istchee James Bay, 800 km north of Montreal. The first gold was poured on Oct. 1, 2014, and it is among the largest gold mines in Quebec, having produced over 215,000 oz. of gold in 2022. Guidance for 2023 is 265,000 to 295,000 oz. at an all-in sustaining cost of between US$1,300 and US$1,400 per ounce.
Wildfires forced Newmont to temporarily shut down operations at Éléonore in June.
The new coin will be available soon through the Mint’s official bullion distributors.
