Agnico Mines was formed in Canada in 1957 and was officially named Agnico-Eagle Mines Limited in 1972 through the merger of Agnico Mines Limited, a prominent silver producer in Cobalt, Ontario, and Eagle Gold Mines Limited, a successful gold exploration company. The name was changed to Agnico Eagle Mines Limited (dropping the hyphen) in 2013.
Build a high-quality, manageable business that generates superior long-term returns per share by:
We employ approximately 8,400 permanent and contractor employees in five countries.
At the end of 2016, our proven and probable mineral reserves contained 19.9 million ounces of gold. Our byproduct reserves include approximately 54 million ounces of silver, 153,000 tonnes of zinc and 77,000 tonnes of copper.
Agnico Eagle’s payable gold production is expected to be 1.56 million ounces in 2017.
We produce gold, silver, zinc and copper. In 2017, gold and silver sales are expected to account for approximately 98% of revenues.
Our customers are bullion banks (or dealers). We reduce counterparty risk by limiting our gold sales to bullion dealers that are divisions of major banks.
We sell the gold as soon as it is available – we do not inventory gold ounces – at prevailing market prices on the day of the sale.
Agnico Eagle does not sell forward any of our gold or silver production. We participate fully in the upside increase in the price of both gold and silver, and always have.
We own 100% of all of our operations and development stage properties, with the exception of the properties obtained through the Agnico Eagle and Yamana Gold Inc. acquisition of Osisko Mining Corporation on June 16, 2014. Agnico Eagle and Yamana each own 50% of the Canadian Malartic General Partnership that owns and operates the Canadian Malartic mine. Other properties acquired from Osisko such as the Kirkland Lake, Hammond Reef and Pandora projects are held by Canadian Malartic Corporation, in which Agnico Eagle and Yamana each own 50% interest.