Sept 4 Canadian gold miner Agnico-Eagle Mines
Ltd said its board approved the development and
construction of a mine in Mexico.
Commercial production at the La India mine is expected in
the second half of 2014, the company said.
Construction costs, which will be funded from the operating
cash flows, for the mine are expected to total about $158
million. Capital costs are expected to total about $25 million
over the eight-year life of the mine.
Construction of the project will begin immediately,
Agnico-Eagle, which also has the Pinos Altos mine in northern
Shares of the company closed at C$47.12 on Tuesday on the
Toronto Stock Exchange.