Profile: Agnico Eagle Mines Ltd (AEM.TO)
30 Jun 2015
Agnico Eagle Mines Limited, incorporated on June 1, 1972, is a Canadian gold mining company. The Company operates in three business units: Northern Business; Southern Business, and Exploration. The Company's nine mines are located in Canada, Mexico and Finland, with exploration and development activities in each of these regions as well as in the United States. The Company's properties include LaRonde Mine; Lapa Mine; Goldex Mine; Canadian Malartic Mine; Meadowbank Mine; Meliadine Project, and Kittila Mine. As of 2014, Agnico Eagle recorded total cash costs per ounce of gold produced of $637 on a by-product basis and $721 on a co-product basis on payable gold production of 1,429,288 ounces.
The Company owns 100% of LaRonde mine, located in northwestern Quebec. The 7,200-ton-per-day mine and plant has produced 4.6 million ounces of gold as well as valuable by-products. As of December 31, 2014, the LaRonde mine's proven and probable mineral reserves were approximately 3.4 million ounces. Ore is processed at the LaRonde mineral processing complex, which includes copper and zinc flotation as well as precious metals recovery and refining. The processing plant produces dore bars containing gold and silver, as well as zinc and copper concentrates that also carry gold and silver credits.
The Company's Lapa underground mine is located in the Abitibi region of northwest Quebec, 11 kilometers east of Agnico Eagle's LaRonde mine, and 49 kilometers west of Goldex property. Lapa mine has proven and probable reserves containing approximately 0.2 million ounces of gold (0.9 million tons grading 5.8 gram/ton (g/t) gold).
The Company's Goldex underground mine and processing plant are located in the city of Val-d'Or, Quebec, some 60 kilometers east of the LaRonde mine. This proximity allows for operating synergies between the two sites. Goldex has proven and probable reserves of almost 0.3 million ounces of gold (7.1 million tons grading 1.5 grams/ton gold) as of December 31, 2014.
Canadian Malartic Mine
The Company's Canadian Malartic mine is located in the heart of the prolific Abitibi Gold Belt in Quebec, south of the town of Malartic, approximately 25 kilometers west of the City of Val-d'Or. The 55,000- tons/day open-pit mine and plant produced 535,470 ounces of gold as well as 533,315 ounces silver (on a 100% basis) in 2014. The Company's proven and probable mineral reserves at the Canadian Malartic mine were approximately 4.3 million ounces, as of December 31, 2014.
The Company's Meadowbank mine is located in the Kivalliq region of Nunavut, about 2,600 kilometers northwest of Toronto. Meadowbank comprises 1.2 million ounces of gold in proven and probable reserves (12 million tons at 3.08 g/t). The 100% owned Amaruq project is located approximately 50 kilometers northwest of the Meadowbank mine in Nunavut, Canada.
The Company has 100% interest in the Meliadine project in Nunavut, Canada. As of December 31, 2014, the Meliadine project had proven and probable mineral reserves of 3.3 million ounces.
The Company's 100% owned Kittila mine is located in the Lapland region of northern Finland, approximately 900 kilometers north of Helsinki. Proven and probable mineral reserves at the Kittila mine amounted to 4.5 million ounces, as of December 31, 2014. The development of the Rimpi Zone is expected to provide additional feed to the Kittila mine's mill. The Company is also evaluating the potential of the Kuotko deposit, located approximately 15 kilometers north of the Kittila mine, as an open pit feeding the Kittila mine mill.
Pinos Altos Mine
The Company's Pinos Altos mine is located in the mountainous region of northern Mexico, 220 kilometers west of Chihuahua. Pinos Altos mine, including Creston Mascota, has proven and probable reserves containing 2.0 million ounces of gold and 49.2 million ounces of silver (24 million tons grading 2.6 g/t gold and 63.6 g/t silver). The Creston Mascota deposit at Pinos Altos is located approximately seven kilometers northwest of the deposit at the Pinos Altos mine in northern Mexico.
La India Mine
The La India mine is located approximately 200 kilometers east of Hermosillo in Sonora, Mexico. The 604-square kilometer property includes the La India mine site, the Tarachi gold resource and several other prospective exploration targets, situated in the prolific Mulatos gold belt. The La India mine hosts proven and probable reserves of 0.7 million ounces of gold contained within 24.9 million tons of ore grading 0.9 g/t gold.
Agnico Eagle Mines Ltd
145 King Street East, Suite 400
TORONTO ON M5C 2Y7