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Agnico Eagle 'Will Be A Top Five Mine,' CEO Predicts As Detour Lake Plans Are Unveiled

Agnico Eagle Mines (NYSE:AEM) has a new plan to increase gold production at Detour Lake in Ontario. What Happened: The company aims to boost production to an average of one million ounces per year over a 14-year period. Agnico plans to start in 2030 as part of its newly released 2024 life-of-mine plan (LoMP). “With the development of an underground mine to complement the existing open pit, we see the opportunity to transform Detour Lake into one of the top five gold mines globally by output," Agnico Eagle president and CEO Ammar Al-Joundi said. Detour Lake, the largest gold-producing mine in Canada, currently operates as an open-pit mine in northeastern Ontario. The updated 2024 LoMP outlines a plan ...