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Agnico Eagle Mines Limited

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Agnico Eagle is Canada's largest mining company and the second largest gold producer in the world, with operations in Canada, Australia, Finland, and Mexico.

Investor website: https://agnicoeagle.com/

About

Agnico Eagle is Canada's largest mining company and the second largest gold producer in the world, with operations in Canada, Australia, Finland, and Mexico. Founded in 1957, the company is committed to sustainable growth and has a strong track record of value creation, having declared a cash dividend every year since 1983. Agnico Eagle is recognized for its sustainability practices and aims to make mining beneficial for all stakeholders.

Verified company data

Mineral resource
Proven & Probable Gold Mineral Reserves: 1.5 million oz gold; Measured & Indicated Gold Mineral Resources: 1.3 million oz gold; Inferred Gold Mineral Resources: 783,000 oz gold. *As at December 31, 2025. For details, see the year-end 2025 Mineral Reserves and Mineral Resources statement (opens in new tab).
Projects
["The Meadowbank gold mine – Agnico Eagle's first mine located in Canada's Arctic region – achieved commercial production in March 2010, with mining operations continuing until 2019. The development of the satellite Amaruq open-pit and underground mine 50 km away has extended the life of the Meadowbank complex by supplying a new source of ore to the existing Meadowbank mill. Commercial production at the Whale Tail pit at Amaruq began in September 2019 and commercial production of Amaruq underground was achieved in August 2022. Today, the Meadowbank complex includes the processing facilities and infrastructure at the Meadowbank minesite (mill, tailings facilities, accommodation facility and airstrip) combined with mining and infrastructure at Amaruq (warehouse, fuel storage, second accommodation facility) linked by a 64-km road. Amaruq ore is transported using long haul off-road type trucks to the mill at the Meadowbank facilities for processing. Ore is processed using a conventional crushing, grinding, gravity, cyanidation and carbon-in-pulp processing facility to recover gold. The Meadowbank gold processing plant uses conventional technology adjusted to the Arctic climate. Gold-plated cathodes and gravity concentrate are smelted in an induction furnace and poured as doré bars. Location: 110 km by road north of Baker Lake, Kivalliq District, western Nunavut. Metals: Gold, by-product silver. Mine Type: Underground and open pit. 2025 Performance: Production: 493,314 oz gold; Production Costs: $1,120/oz gold; Total Cash Costs: $928/oz gold. 2026 Guidance (Mid-Point): Production: 485,000 oz gold; Total Cash Costs: $930/oz gold. Highlights: In February 2026, the Company approved an extension to the Amaruq life of mine to 2030 (previous mine life of 2028) with additional stopes from the underground. Work is ongoing to further extend mine life at Amaruq. 2024 marked a significant milestone as the Meadowbank complex became the first Agnico Eagle operation in Nunavut to reach 5 million ounces of gold poured.","With exploration beginning in 1931 and first production beginning in 1933, Macassa remains one of the world's highest-grade gold mines. The #4 Shaft production hoist, commissioned in 2023, has started a new chapter in the life of the Macassa mine, increasing production, improving working conditions, lowering unit costs and increasing exploration capacity. Ore is processed using conventional crushing, grinding, gravity, cyanidation and carbon-in-pulp processes with Zadra recovery. The concentrate is melted in an induction furnace where doré is poured that typically contains 70% to 85% gold, and 5% to 10% silver. Using new ramp access, the nearby Near Surface and Amalgamated Kirkland (AK) gold deposits are being added to the production profile of the Macassa mine, providing additional operational flexibility to the Macassa mine. Location: Kirkland Lake, northeastern Ontario. Metals: Gold, by-product silver. Mine Type: Underground. 2025 Performance: Production: 312,729 oz gold; Production Costs: $709/oz gold; Total Cash Costs: $793/oz gold. 2026 Guidance (Mid-Point): Production: 315,000 oz gold; Total Cash Costs: $1,079/oz gold. Highlights: In 2023, the Macassa mine celebrated its 90th anniversary and poured its six millionth ounce of gold. The wider Kirkland Lake mining camp had its first gold rush in 1906 and has produced more than 25 million ounces of gold since 1910. The strategic location of Macassa in the Kirkland Lake mining camp provides for potential synergies with the Company's other assets in the camp, including the advanced Upper Beaver gold-copper project and the Upper Canada, Anoki-McBean, Munro and Bidgood gold deposits.","The Canadian Malartic complex in northwestern Quebec is one of the largest gold mining operations in the world. It consists of two mines: the Canadian Malartic mine, one of Canada’s largest open-pit gold mines; and the Odyssey mine, set to become the largest underground gold mine in Canada. Open-pit mining in the Canadian Malartic pit was completed in 2023 and is continuing in the adjacent Barnat pit, which is expected to operate through 2029. The Canadian Malartic pit is now being used for in-pit tailings disposals. The new underground Odyssey mine, where mining began from the Odyssey South zone in 2023, is expected to produce 8.5 million ounces of payable gold from 2023 to 2042. Both open-pit and underground ores are processed at the 60,000-tpd-capacity Canadian Malartic mineral processing facility, using a crushing-grinding process to recover gold and silver. The Odyssey mine is expected to use approximately one third of the mill capacity, leaving approximately 40,000 tpd of excess capacity starting in 2028. With its “Fill the Mill” strategy, the Company is advancing three gold projects to potentially utilize a portion of this excess capacity and position Canadian Malartic to ramp-up toward 1 million ounces of annual gold production starting in 2033. These projects include a second shaft at Odyssey, the development of a satellite open pit at Marban and the development of the Wasamac underground project. Marban and Wasamac are located 12 km and 100 km from the Canadian Malartic mill, respectively. Location: Malartic, northwestern Quebec. Metals: Gold, by-product silver. Mine Type: Open pit and underground. 2025 Performance: Production: 642,612 oz gold; Production Costs: $760/oz gold; Total Cash Costs: $946/oz gold. 2026 Guidance (Mid-Point): Production: 590,000 oz gold; Total Cash Costs: $1,187/oz gold. Highlights: Shaft sinking and ramp development at the Odyssey mine are ongoing, reaching depths of 1,466 metres and 1,112 metres, respectively, at year-end 2025. The Prospectors & Developers Association of Canada selected the Canadian Malartic Exploration Team for the 2025 Bill Dennis Award, which is presented to an exploration team that has made a significant mineral discovery in Canada with potential economic viability, for the discovery in 2018 of the East Gouldie deposit at the Odyssey mine. Ongoing exploration has continued to demonstrate geological upside potential of the East Gouldie deposit as well as targets on the recently consolidated lands of the wider Canadian Malartic property that covers a 16.5-km section of the gold-rich Cadillac-Larder Lake fault. A technical evaluation was completed at the Marban deposit during the fourth quarter of 2025 that updated the probable mineral reserves to 1.58 million ounces of gold (51.6 million tonnes grading 0.95 g/t gold) at December 31, 2025. This is the first declaration of mineral reserves by the Company at Marban since the acquisition of O3 Mining Inc., which includes the Marban deposit, in March 2025. Marban is expected to contribute approximately 15,000 tpd and an average of approximately 130,000 ounces of gold per year to the Canadian Malartic complex over a span of nine years, starting as early as 2033."]
Leadership
Sean Boyd (Chair of the Board, Director since 1998, previously CEO and CFO, recognized as Global Visionary of the Year CEO), Jeffrey Parr CPA, CA, ICD.D (Vice Chair of the Board, Director since 2022, retired with over 30 years of executive management experience), Jamie Sokalsky CPA, CA (Lead Director, Director since 2015, former President and CEO of Barrick Gold Corporation), The Hon. Leona Aglukkaq P.C. (Director since 2021, experienced politician and government administrator), Ammar Al-Joundi P.Eng, MBA (President & CEO, Director since 2022, previously President of Agnico Eagle), Martine A. Celej (Director since 2011, Senior Portfolio Manager with RBC Dominion Securities), Jonathan Gill (Director since 2022, Professional Engineer with over 60 years of mining experience), Peter Grosskopf CFA (Director since 2022, CEO of SCP Resource Finance LP with over 35 years in financial services), Elizabeth Lewis-Gray FAusIMM FTSE GAICD (Director since 2022, co-founder and Chair of Gekko Systems), Deborah McCombe P.Geo. (Director since 2014, former Technical Director at SLR Consulting), J. Merfyn Roberts CA (Director since 2008, former fund manager and investment advisor).

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