Agnico to Invest $1.2 Billion in Gold Projects in Canada’s North
- Miner moving ahead with Meliadine and expansion of Meadowbank
- Projects would boost Agnico annual output to 2 million ounces
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Agnico Eagle Mines Ltd. plans to invest more than $1.2 billion in Canada’s subarctic in the next three years as it builds one new mine and expands another.
North America’s fourth-largest gold miner by market value is moving ahead with plans to develop its Meliadine project and a deposit near its Meadowbank mine in Nunavut, the company said Wednesday in its fourth-quarter earnings statement. The decision will boost Agnico’s gold production to 2 million ounces a year by 2020, about 20 percent more than last year’s output of 1.66 million ounces.