PDAC 2025 JV video: Alamos Gold plans to mine about 1M oz gold by 2030, CEO says

Alamos Gold (TSX, NYSE: AGI) plans to produce nearly a million ounces of gold by 2030, CEO John McCluskey said in an interview.

The optimistic outlook draws only on organic growth in the pipeline at assets Alamos already owns. Much of it comes from the combined Magino-Island Gold projects in Ontario. Last year’s production figures were already boosted after the company acquired Argonaut Gold.

“We were going to have to modify our Island mill in order to upgrade it to match a shaft sink that we’re doing right now,” McCluskey said during the PDAC conference in Toronto. “We don’t have to do that anymore. We’ve effectively given ourselves a big head start on that front.”

For 2024, Alamos has raised the production guidance to 600,000 oz. gold from 500,000 oz. and reported 2024 numbers that hit new highs. It produced 567,000 oz. gold in 2024 and free cash flow of $272 million.

Alamos also increased its reserves by nearly a third to 14 million oz. gold – the sixth consecutive year of reserve growth.

Watch the full interview below with The Northern Miner host Devan Murugan.

Joint venture videos are paid-for content in arrangement with The Northern Miner.