Agnico Eagle Mines (NYSE:AEM) aims to increase annual gold production by 20% to 30% over the next five to 10 years through organic growth. The Toronto-based senior gold producer is headquartered in Ontario, Canada.
Canadian operations and exploration
The Canadian Malartic operation is currently transitioning from an open-pit mine to the Odyssey underground mine. Over the past five to 10 years, exploration at the Canadian Malartic operation has added approximately 25 million ounces of gold.
In Nunavut, Canada, Agnico Eagle Mines has begun construction at the Hope Bay project following a decision in May to restart development.
Exploration success at the Patch 7 area of the Hope Bay project really changed the game.
Global project updates
The company announced a transaction involving the Ikkari project in Finland, which is owned by Rupert Resources.
In Australia, Agnico Eagle Mines operates the Fosterville mine in the Central Victorian Goldfields. The company is also evaluating a potential restart of mining operations in the Pine Creek region of the Northern Territory, pending the definition of sufficient resources.
