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Agnico Eagle Mines Eyes 20%-30% Gold Production Growth Through Organic Expansion
['August', 'Min Read']
Yahoo Finance
Agnico Eagle expects to increase annual gold production by 20%–30% over the next five to 10 years through organic exploration and project development rather than acquisitions.
Key growth drivers include expanding Detour Lake toward 1 million ounces annually, transitioning Canadian Malartic to the higher-grade Odyssey underground mine, and restarting development at Hope Bay in Nunavut.
Detour Lake and Canadian Malartic Growth PlansHann identified Detour Lake, Canadian Malartic and Hope Bay as major components of the company's future production growth.
At Detour Lake, he said Agnico Eagle's exploration team has added nearly 25 million ounces to the asset over the past five to 10 years.
He said the company sees a "clear pathway" for Detour Lake to reach production of 1 million ounces annually and sustain that level for decades.