Agnico Eagle Mines, Canada’s biggest gold miner, wants the new government to develop a formal Arctic strategy in response to US President Donald Trump’s threats to make Canada its 51st state, the company’s Chairman Sean Boyd said.
Earlier this year, Agnico overtook Barrick Mining’s market capitalization to become the world’s second-largest gold miner, just below Newmont Corp, the largest extractor of bullion by production and market capitalization.
https://www.northernminer.com/
Agnico Eagle Mines (TSX, NYSE: AEM), generating about one-fifth of Nunavut’s gross domestic product, launched The Arctic Edge podcast series on Thursday. This series aims to show listeners the realities about the Territory and Canada’s North, Agnico chair Sean Boyd tells The Northern Miner.
Hosted by journalist Hannah Thibedeau, the series includes interviews with Inuit leaders, politicians, business executives and military figures. The first two episodes are available on Apple Podcasts and Spotify, with an Inuktitut edition due later.
https://www.thecanadianpressnews.ca/
TORONTO – Record gold prices are translating into higher profits for Canadian producers and excitement about the potential for more growth, though miners remain cautious on spending. Agnico Eagle Mines Ltd. was among the first big producers to report results after a quarter that saw gold top US$3,000 an ounce, while this week it pushed to over US$3,500 an ounce for the first time on U.S. instability fears.
The higher prices led Agnico Eagle, one of the world’s biggest gold producers, to report record adjusted net income of US$770 million for the quarter ending March 31, up from US$377 million last year. “The gold price performance over the past year has been remarkable,” said chief executive Ammar Al-Joundi on an earnings call Friday.
Hope Bay in Kitikmeot Region is also part of company’s future, VP says
Agnico Eagle Mines Ltd. is looking at extending the lives of its two Kivalliq Region mines beyond their planned closure dates. “It’s safe to say that Nunavut is an important platform for Agnico Eagle,” said Chris Adams, Agnico Eagle’s vice-president for Nunavut, speaking alongside executives from B2Gold Corp. and Baffinland Iron Mines Corp. on a panel Wednesday at the Nunavut Mining Symposium in Iqaluit.
Agnico Eagle’s Meadowbank site, which produced 504,719 ounces of gold last year and employs 1,831 people, is scheduled to close in 2028.
https://www.northernontariobusiness.com/
Underground mine construction activity planned for 2025, pending arrival of government permit
Agnico Eagle wants to grow its northeastern Ontario assets by more than 50 per cent as early as 2030. The leading Toronto gold company has a slew of development projects underway in Ontario, western Quebec and Nunavut, including the Detour Lake mine, northeast of Cochrane, where plans are afoot to drive production there to one million ounces a year.
Both the Detour expansion and the Upper Beaver mine project in the Larder Lake area are looked upon as two of Agnico’s catalysts for growth.
https://www.northernontariobusiness.com/
Agnico eyes O3 Mining’s Marbon deposit with $204-million cash offer
Agnico Eagle is looking to expand its mining footprint in the Abitibi region. The Kirkland Lake and Detour Lake gold miner is making a takeover bid for O3 mining, a neighbouring gold company on the Quebec side of the prolific Abitibi mineral belt.
Agnico announced Dec. 12 that it has entered into a definitive support agreement to acquire all of the outstanding common shares of O3 in an offer valued at $204 million. The proposed deal is built around the acquisition of O3 Mining’s main asset, its Marban Alliance property, located outside Val d’Or, that is next to Agnico Eagle’s Canadian Malartic mine complex.
https://www.northernontariobusiness.com/
Executive Andre Leite pledges to continue supporting First Nations and Indigenous business partnerships in the North
The vice-president of Canada’s largest gold mining company said there is a lot of excitement these days in the industry, but it’s not just related to the rapidly rising price of gold, which has reached record levels in recent weeks.
Andre Leite, vice-president of Agnico Eagle Mines’ Ontario operations, said his company is working hard to maintain best possible working relations with First Nations both in providing jobs and sustainability for mining operations on Indigenous lands in Northern Ontario.
https://www.thesudburystar.com/
Agnico Eagle Mines Limited outlines its plans to develop gold mines in the province
Agnico Eagle Mines Limited is planning to spend billions developing gold mines in Ontario – a fact that should benefit mining services and supply companies based in Sudbury. That’s one of the messages Andre Leite, Ontario vice president of Agnico Eagle Mines Limited, brought to a Greater Sudbury Chamber of Commerce President’s Series Luncheon on Thursday.
Agnico Eagle’s business is gold production and Sudbury is the home base for Leite. His company is recognized globally for its leading environmental, social and governance practices.
People remain suspicious of resource extraction even though more regulations are in place, says company director
Many Nunavummiut have misconceptions about mining, says Pujjuut Kusugak. Kusugak is the director of Nunavut affairs for Agnico Eagle, which operates multiple gold mines in Nunavut. “People still remember how mines used to operate — Wild West do whatever you want, no safety concerns,” he said in an interview with Nunatsiaq News at the Agnico Eagle office in Rankin Inlet.
People assume that the company still “does whatever it wants,” he added, but today Nunavut has some of the strictest regulations that protect the environment using both territorial and federal laws. Meliadine mine would have been “shut down” very quickly if it was operating the same way mines used to operate, Kusugak said.
Milestone expected to be reached in November; Nunatsiaq News takes tour to learn how ore is transformed
Agnico Eagle’s Meliadine gold mine is nearing a milestone. In November, the company projects the mine located near Rankin Inlet will have produced two million ounces of gold, said Pujjuut Kusugak, director of Nunavut affairs for Agnico Eagle Mines Ltd.
Two million ounces is just under 57 tonnes — or perhaps a more appropriate measurement for such occasions, approximately 28.5 small elephants. Nunatsiaq News was given a tour Oct. 2 of the above-ground part of Meliadine mine to learn how rock gets blasted, excavated, crushed and transformed via chemical reaction into such an enormous amount of gold.
It’s the first time that a Northern Ontario mine is being used for the initiative
If you ever wanted to own gold poured right here in Northern Ontario, now’s your chance. The Royal Canadian Mint has launched its 2024 single-sourced gold maple leaf coin. It’s crafted entirely from gold poured from Agnico Eagle’s Detour Lake mine.
Detour Lake is located about 300 kilometres northeast of Timmins, this is the second time Agnico has teamed up with the Royal Canadian Mint for the bullion — a coin made from highly refined precious metal. It’s the first time a Northern Ontario mine is featured in the program.
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.
(Bloomberg) — A fire at Anglo American Plc’s biggest metallurgical coal project in Australia halted production, with the miner saying it may take months for it to be extinguished. Anglo, which is seeking to sell the mine as part of a turnaround plan, fell as much as 4%.
A methane explosion on Saturday caused the fire at the Grosvenor underground mine, which accounts for about 30% of the company’s annual production of coking coal in Queensland state, Anglo said in an emailed statement Monday. No one was injured.
https://www.northernontariobusiness.com/
Agnico Eagle sizes up $1-billion investment to construct underground exploration ramp, expand mill production
Agnico Eagle is on a path to upsize its Detour Lake mine, near the Quebec border, into a one-million-ounce per year gold producer.
The Toronto gold company has posted a preliminary economic assessment and a new mine plan that involves digging beneath its current open-pit operation to tap into a “high-grade core of mineralization” and follow a gold system that tracks west on its property.
The longtime leader of Agnico Eagle is newly focused on his vision of how industry and government can partner to develop the North
Sean Boyd has spent the past four decades building Toronto-based Agnico Eagle Mines Ltd. into Canada’s largest mining company and the world’s second-largest gold miner.
Now, having “retired” in December and transitioned to company chair from executive chair, he is making frequent visits to Ottawa to push the federal government to more aggressively assert sovereignty over the Canadian Arctic, where Agnico has built three mines (two are currently producing) and is planning a fourth project.
