https://www.northernontariobusiness.com/
Gold company spending US$300 million on exploration ramps at Upper Beaver, Detour Lake
Agnico Eagle is spending a combined US$300 million on two exciting gold projects in northeastern Ontario to lengthen its life in the Abitibi gold belt.
Heading into the next decade, the Toronto gold company has plans to build two underground mines by expanding its Detour Lake mine, northeast of Cochrane, and develop its Upper Beaver Project, north of Larder Lake. To Agnico, both Detour and Upper Beaver are considered low-cost, long-life projects with solid returns and blue sky potential.
In June, Agnico provided more details on the underground opportunity at its Detour pit where there’s a push on to make that operation a one-million-ounce-per-year producer.
In releasing its second-quarter 2024 financials and operating performance in July 31, Agnico revealed its next steps on delivering Upper Beaver, one of the projects it’s been grooming in the Kirkland Lake mining camp.
For the rest of this article: https://www.northernontariobusiness.com/industry-news/mining/agnico-eagle-eyes-2030-mine-startup-for-larder-lake-area-deposit-9316305