For the first nine months of 2014, Agnico Eagle Mines reported significantly higher gold production due primarily to higher grades at Meadowbank, the acquisition of Canadian Malartic, and contributions from commercial production at Goldex and La India.
“In 2014, we have strengthened our businesses in each of our four principal operating regions, and we anticipate continued strong production performance in the fourth quarter of 2014 and for 2015 as a number of our key mines continue to expand and ramp up their output. As such, we are pleased to provide increased production guidance of approximately 1.6 million ounces for 2015,” said Sean Boyd, president and CEO. “With the pending closure of the Cayden acquisition and a maiden resource expected at Amaruq by early next year, Agnico is well positioned to drive further growth on both our northern and southern business platforms well into the future.”
During the third quarter, Agnico Eagle produced 349,273 oz at a total cash cost of $716/oz. Production for 2014 is expected to be approximately 1.4 million oz with total cash costs of $650/oz to $675/oz.
The Canadian Malartic mine achieved record quarterly mill throughput, processing on average of 52,539 metric tons per day (mt/d). Production for 2015 is now expected to be approximately 1.6 million oz as a result of expected increased production at Meadowbank, Kittila and the Mexican operations.