Improving the quality and value of our business is a never-ending focus for Agnico Eagle. Our team of highly-skilled geologists is dedicated to growing our exploration and development pipeline, with a focus on low risk, high-potential regions where projects and mines can drive the future of our business. We have committed significant resources to our exploration program, budgeted at $125 million in 2017.
Our primary goal is to ensure we develop a best-in-class project pipeline to replenish reserves and production, while maintaining the quality, manageability and fit of our future portfolio.
Our primary objective is to build a high-quality business focused on solid execution that drives growth in cash flow per share. Our strategy has been consistent for many years – to minimize financial and political risk while using our broad range of technical skills and experience to build long-life, manageable operations in recognized mining regions.
Building and maintaining a high-quality project pipelineWe focus on growing our gold reserves and production in mining-friendly regions, acquiring early-stage opportunities, and adding value through our exploration and mine-building expertise. We are well positioned to continue growing output through our internal expansion projects, current development of a large new operation at Meliadine and potential development of the Amaruq satellite deposit at Meadowbank, advanced exploration work at the Barsele, El Barqueño and Kirkland Lake projects, and our ongoing exploration activities, as well as through potential acquisitions, joint ventures and partnerships.
We will continue to focus on constructing a mine at Meliadine that is expected to add significant production starting in 2019 to 2020, as well as adding incremental production at our current mines, while advancing Amaruq, Barsele and El Barqueño. We will, however, continue to take a prudent and measured approach to development while maintaining financial flexibility.
Our team of geologists – who are based in Canada, the United States, Mexico, Finland and Sweden – is currently exploring at the highest-priority sites among our 107 projects, covering 8,925 square km of land worldwide.
Mineral reserves and resources