The president and CEO of Agnico Eagle Mines Ltd., which operates two gold mines in Nunavut, says Canadian companies are best positioned to manage mines in the territory, where partnerships with communities are key.
Sean Boyd, speaking on Tuesday, June 16, at an online keynote session at the Canadian Mining Symposium, was referring to the proposed buyout of TMAC Resources Inc.’s Hope Bay mine in western Nunavut by the Chinese state-owned Shandong Gold Mining Co. Ltd.
“We think that should be done by Canadian companies run by Canadians, based in Canada, because we have the understanding of history and we have that sense of pride in the country and that willingness to see people benefit from that opportunity,” Boyd said.
On June 26, TMAC shareholders will vote in a special meeting on the buyout, which, if accepted, must then pass the scrutiny of regulators in Canada and China.
“We’ll leave it to the government and the Inuit associations that this is the type of structure they are comfortable with,” Boyd said.
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