Profile: Agnico Eagle Mines Ltd (AEM.TO)
27 Feb 2015
Agnico Eagle Mines Limited (Agnico Eagle), incorporated on June 1, 1972, is a Canada-based gold mining company. The Company has nine mines located in Canada, Finland and Mexico, with exploration and development activities in each of these regions, as well as in the United States. The Company operates through three segments: Northern Business, Southern Business and Exploration. The Northern Business segment operates LaRonde mine, Lapa mine, Goldex mine, Meadowbank mine, Meliadine project and Kittila mine. The Southern Business segment operates the Pinos Altos mine, Creston Mascota deposit at Pinos Altos and La India project. The Exploration segment operates United States Exploration office, Europe Exploration office, Canada Exploration offices and Latin America Exploration office. The Company also operates Canadian Malartic Mine. The Company’s wholly owned subsidiary includes Cayden Resources Inc.
The LaRonde mine is situated in municipalities of Preissac and Cadillac. The Company's LaRonde mine consists of the LaRonde property and the adjacent El Coco and Terrex properties, each of which is 100% owned and operated by the Company. The LaRonde mine operates under mining leases obtained from the Ministry of Natural Resources (Quebec) and under certificates of approval granted by the Ministry of Sustainable Development, Environment, Wildlife and Parks (Quebec). The LaRonde property consists of 36 contiguous mining claims and one provincial mining lease and covers in total 1,047.4 hectares. The El Coco property consists of 22 contiguous mining claims and one provincial mining lease and covers in total 356.7 hectares. The Terrex property consists of 21 mining claims that cover in total 424.4 hectares. The LaRonde mine includes underground operations at the LaRonde and El Coco properties that can both be accessed from the Penna Shaft, a mill, a treatment plant, a secondary crusher building and related facilities.
The Lapa mine is located east of the LaRonde mine near Cadillac, Quebec. The Lapa property is made up of the Tonawanda property, which consists of 44 contiguous mining claims and one provincial mining lease covering an aggregate of 702.4 hectares, and the Zulapa property, which consists of one mining concession of 93.5 hectares.
Goldex Mine Project
The Goldex mine project is located in the City of Val d'Or, Quebec, approximately 60 kilometers east of the LaRonde mine. The Goldex mine project operates under a mining lease obtained from the Ministry of Natural Resources (Quebec) and under certificates of approval granted by the Ministry of Sustainable Development, Environment and Parks (Quebec). The Goldex property, in which the Company has a 100% working interest, consists of 22 contiguous mining claims and one provincial mining lease (98.6 hectares), covering an aggregate of 331.2 hectares. The property is made up of three blocks: the Probe block (130.7 hectares); the Dalton block (10.4 hectares); and the Goldex Extension block (190.1 hectares). The Goldex property includes underground operations that can be accessed from two shafts, a processing plant, an ore storage facility and other related facilities.
The Meadowbank mine is located in the Third Portage Lake area in the Kivalliq District of Nunavut in northern Canada, approximately 70 kilometers north of Baker Lake. The Meadowbank mine is held under ten Crown mining leases, three exploration concessions and 40 Crown mineral claims. The Meadowbank mine consists of three gold-bearing deposits: Portage, Goose and Vault.
The Meliadine project is located near the western shore of Hudson Bay in the Kivalliq region of Nunavut. The Meliadine property is a contiguous land package that is nearly 80 kilometers long. It consists of 65,499 hectares of mineral rights, of which 62,069 hectares are held under the Canada Mining Regulations and administered by the Aboriginal Affairs and Northern Development Canada and referred to as Crown Land. The Crown Land is made up of mining claims covering 10,783 hectares and mineral leases covering 51,286 hectares.
The Kittila mine is located in the town of Kittila in northern Finland. The gold deposit is located near the small village of Rouravaara, approximately ten kilometers north of the village of Kiistala, accessible through a paved road. The property is close to infrastructure, including hydro power, an airport and the town of Kittila. The project also has access to a qualified labour force, including mining and construction contractors.
Pinos Altos Mine
The Pinos Altos mine is located on an 11,000-hectare property in the Sierra Madre gold belt in the State of Chihuahua in northern Mexico. The Pinos Altos property is made up of two blocks: the Agnico Eagle Mexico Concessions (22 concessions, 26,810.2 hectares), and the Pinos Altos Concessions (18 concessions, 5,053.1 hectares). The Pinos Altos property is characterized by moderate to rough terrain with mixed forest (pine and oak) and altitudes that vary from 1,770 metres to 2,490 metres above sea level.
La India Mine Project
The La India mine project includes the Tarachi deposit and several other prospective targets in the belt. At Tarachi, indicated resources are 34.5 million tons grading 0.41 grams of gold per tons and inferred resources are 72.0 million tons grading 0.38 grams of gold per ton. The La India mine project is located in the municipality of Sahuaripa, southeastern Sonora State, between the small rural towns of Tarachi and Matarachi, which offer basic infrastructure in the form of roads, rural telephone service, small grocery stores and unpaved air strips.
Canadian Malartic Mine
The Company owns 50% interest in the Canadian Malartic mine located in Quebec, south of the town of Malartic. At December 31, 2013, the mine produced 475,277 ounces of gold and 422,619 ounces of silver.
Agnico Eagle Mines Ltd
Suite 400, 145 King Street East
TORONTO ON M5C 2Y7
Company Web Links
- Agnico Eagle reports fourth-quarter loss on non-cash items
- UPDATE 2-Gold miner Agnico earnings miss but raises output forecasts
- Canada gold miner Agnico Eagle Mines reports loss on one-off items
- UPDATE 1-Miner Agnico-Eagle to buy Mexico-focused explorer Cayden
- Miner Agnico-Eagle to buy Mexico-focused explorer Cayden