Agnico Eagle Mines Ltd

Mining

Agnico Eagle Mines Ltd is an international gold producer with its headquarters in Toronto, Ontario.

The company owns a diversified portfolio of mineral assets and focuses on development and exploration.

The Canadian producer undertakes exploration and mining activities in Canada, Sweden, Finland, Mexico, Latin America, Europe and the United States.

Through its policy of no-forward gold sales, the company says it has complete exposure to gold prices.

Five silver mining companies merged together to form Cobalt Consolidated Mining Company in 1953. On October 25, 1957, the company was rebranded as Agnico Mines Limited.

In 1972, following the merger with Eagle Gold Mines Limited, Agnico Eagle Mines Limited was created.

Agnico-Eagle USA, Agnico-Eagle Mexico, Agnico-Eagle Sweden, Agnico-Eagle Finland, and Riddarhyttan Resources are the company's principal subsidiaries.

The gold producer operates through three reporting segments: Northern Business, Southern Business and Exploration segment.

Northern Business segment

Agnico Eagle Mines owns and operates various mineral properties, including:
• Meadowbank mine
• Goldex mine
• Lapa mine
• LaRonde Complex

The section also includes other mines and projects, such as the Amaruq deposit, Meliadine project, Canadian Malartic joint operation, and Kittila mine.

LaRonde Gold mine, located in northwest Quebec, is the company's oldest mining property. It was formerly known as Dumagami mine. The property is a gold-rich deposit with significant silver, copper and zinc credits.

Kittila mine reportedly hosts the firm's largest mineral reserves and has a mine life till 2034.

It reportedly contains mineral reserves of around 4.1 million ounces of gold.

Southern Business Unit

This segment comprises three mines: Pinos Altos mine, La India mine, and Creston Mascota mine.

Exploration Unit

The company manages all the exploration activities in the United States, Canada, Europe, and Latin America through this segment.

The stocks trade under the ticker 'AEM' on the New York Stock Exchange and Toronto Stock Exchange. It is among the Canadian component of S&P/TSX 60 under the symbol ‘AEM-T’.