As the gold price ascends, Alamos Gold (TSX: AGI), Aris Mining (TSX: ARMN), and Barrick Mining (NYSE: B) (TSX: ABX) are ramping up expansion projects to strengthen their production profiles, while junior explorers like Canterra Minerals Corp. (TSX-V: CTM) (OTCQB: CTMCF) look to prove they can advance into the development pipeline following strong prospecting results released this week1.
Major gold producers are focusing on expansion to maximize leverage to rising bullion prices. Alamos Gold is moving forward with its Island Gold Phase 3+ expansion in Ontario3, extending mine life and scaling production. Aris Mining is expanding production in Colombia4, with mill upgrades at Segovia and a major Marmato expansion set to lift output and drive growth across Latin America. Meanwhile, Barrick is in an aggressive expansion phase, advancing major copper-gold projects in Zambia5 and Pakistan6 while growing production across the Americas and Africa7.
Copper-gold small-cap Canterra Minerals Corp. (TSX-V: CTM) (OTCQB: CTMCF) recently released new prospecting results from its Wilding Gold Project in central Newfoundland, directly adjoining Equinox Gold’s Valentine Mine. Canterra reported exceptionally high-grade results, exceeding 500 g/t Au, were found around the original discoveries. These are the highest-grade gold results ever reported on the project, confirming the strength of the Wilding gold system and comparing favourably with top intercepts from adjacent deposits at Valentine during its exploration phase. With Valentine set to become Atlantic Canada’s largest gold operation, Canterra’s latest findings underscore the strong discovery potential along its 55 km corridor and highlight the project’s exciting exploration upside.
Meanwhile, Canterra has also launched Phase 3 of its fully funded 10,000-metre drill program at the Buchans Project2 in central Newfoundland, following a deep 3D IP survey that outlined multiple large-scale, high-priority anomalies along the same stratigraphy as the historic high-grade Buchans Mine. With 6,000 metres of drilling now underway, Canterra is targeting several tier-one VMS prospects, marking a pivotal step toward potential new discoveries in one of the world’s most storied base metal districts.
Alamos Gold (TSX: AGI) is advancing its Island Gold Phase 3+ expansion in Ontario, designed to transform the asset into one of Canada’s most profitable underground mines. The project will nearly double mining rates and extend mine life well into the 2030s, supporting annual production growth at lower costs. This strategic investment enhances operational scale in a Tier 1 jurisdiction and complements Alamos’ broader portfolio. With construction progressing and capital discipline intact, Alamos is balancing growth with returns to shareholders, positioning Island Gold Phase 3+ as a cornerstone of its expansion strategy.
Aris Mining (TSX: ARMN) is steadily growing production capacity in Colombia through its Segovia and Marmato operations. At Segovia, a second mill commissioned in June 2025 has boosted processing rates to 3,000 tpd, supporting full-year guidance of 230,000 – 275,000 oz. At Marmato, construction of the new 5,000 tpd mill and Bulk Mining Zone expansion is advancing toward a 2026 start-up, positioning the asset to deliver over 200,000 oz annually. With Colombia’s rich geology and relatively limited large-scale mining, Aris sees a long-term opportunity to consolidate its role as a leading mid-tier producer. The company also emphasizes community partnerships and small-scale miner integration, critical to sustaining growth and building stakeholder support.
Barrick Mining (NYSE: B) (TSX: ABX) is executing one of the most extensive organic growth pipelines in the mining sector, anchored by its $2 billion Lumwana Super Pit expansion in Zambia and the Reko Diq copper-gold mega-project in Pakistan, slated to begin production later this decade. These initiatives are complemented by ongoing development through Nevada Gold Mines in the United States, continued investment in Tanzania, and operations across Latin America. By pushing forward on multiple fronts, Barrick is broadening its exposure to copper alongside gold, diversifying regional risk, and positioning itself for material production growth over the coming years.
Expansion is the clear throughline across the sector. Alamos, Aris, and Barrick are advancing projects that will reshape production and lower costs, while Canterra is adding momentum through fresh discoveries and aggressive drilling. Together, they highlight a mining industry balancing the scale and stability of majors with the upside and agility of juniors.