Profile: Agnico Eagle Mines Ltd (AEM.TO)
11 Jul 2014
Agnico Eagle Mines Limited (Agnico Eagle), incorporated on June 1, 1972, is a Canada-based international gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut and exploration activities in Canada, Europe, Latin America and the United States. The Company operates in four segments: Canada, Europe, Latin America and Exploration. The Company’s mines and mine projects include LaRonde mine, Lapa mine, Goldex mine project, Kittila mine, Pinos Altos mine, La India mine project and Meadowbank mine. Effective March 22, 2013, the Company acquired a 9.271% interest in Atac Resources Ltd. In April 2013, it acquired an 11.074% stake in Sulliden Gold Corp Ltd. In May 2013, it acquired the entire share capital of Urastar Gold Corp. In June 2014, Agnico Eagle and Yamana Gold Inc. jointly acquired 100% of issued and outstanding common shares of Osisko Mining Corporation (Osisko).
The Canada Segment is consists of the Company's operations in the Province of Quebec and the Nunavut Territory. The Company's Quebec properties include the LaRonde mine, the Lapa mine and the Goldex mine project, each of which is held directly by the Company. The Company's operations in the European Segment are conducted through its indirect subsidiary, Agnico Eagle Finland Oy, which owns the Kittila mine in Finland. The Company's Nunavut properties are consists of the Meadowbank mine and the Meliadine project, which are both held directly by the Company. In the Latin American Region, the Company's mining at Pinos Altos is conducted through its subsidiary, Agnico Eagle Mexico S.A. de C.V., which owns the Pinos Altos mine, including the Creston Mascota deposit. The La India mine project is owned by the Company's indirect subsidiary, Agnico Sonora, S.A. de C.V. The Exploration Segment includes the Company's grassroots exploration operations in the United States, the European exploration office, the Canadian exploration offices and the Latin American exploration office.
The LaRonde mine is situated approximately halfway between the City of Rouyn-Noranda and the City of Val d'Or in northwestern Quebec (approximately 470 kilometres northwest of Montreal, Quebec) in the 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.
Bousquet and Ellison Properties
The Bousquet property is located immediately west of the LaRonde mine and consists of two mining leases covering 80.0 hectares and 31 claims covering 384.9 hectares. The Ellison property is located immediately west of the Bousquet property and consists of eight claims covering 101.0 hectares.
The Lapa mine is located approximately 11 kilometers 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 Kittila mine is located approximately 900 kilometers north of Helsinki and 50 kilometers northeast of 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, 285 kilometres west of the City of Chihuahua 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 property consists of 43 mining concessions totalling approximately 56,000 hectares in the Mulatos Gold Belt. 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.
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, about 25 kilometers north of the hamlet of Rankin Inlet and 290 kilometers southeast of the Meadowbank mine. 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.
Agnico Eagle Mines Ltd
Suite 400, 145 King Street East
TORONTO ON M5C 2Y7
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