Osisko Mining has officially inaugurated the Canadian Malartic gold mine located in Abitibi, Canada.

The Canadian Malartic mine, which is Osisko’s first mine to go into production, covers a total area of 230km² of the contiguous Amphi and Cadillac properties.

The firm estimates that it will extract more than nine million ounces of gold from the mine until 2027.

According to a reserve estimate published last year, the mine will produce an average of 600,000 ounces of gold annually over its 12-year life.

The firm will start commercial production from the mine in the second quarter 2011.